EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 52.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,019 shares of the real estate investment trust's stock after selling 3,274 shares during the quarter. Intech Investment Management LLC's holdings in EastGroup Properties were worth $564,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of EastGroup Properties by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust's stock valued at $123,848,000 after buying an additional 53,083 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of EastGroup Properties by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 479,323 shares of the real estate investment trust's stock valued at $81,533,000 after purchasing an additional 2,418 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of EastGroup Properties by 22.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 343,140 shares of the real estate investment trust's stock worth $64,105,000 after purchasing an additional 62,381 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of EastGroup Properties by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 297,807 shares of the real estate investment trust's stock worth $50,657,000 after purchasing an additional 2,916 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in EastGroup Properties in the 2nd quarter valued at about $35,131,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Down 0.8 %

Shares of EGP stock traded down $1.46 on Monday, reaching $170.75. 189,462 shares of the stock were exchanged, compared to its average volume of 302,389. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.24 and a beta of 1.00. The business's 50 day moving average price is $177.48 and its 200 day moving average price is $177.37. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). The business had revenue of $162.88 million during the quarter, compared to analysts' expectations of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The company's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 EPS. As a group, sell-side analysts expect that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.28%. EastGroup Properties's payout ratio is 115.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on EGP shares. Evercore ISI increased their target price on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. Barclays dropped their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating for the company in a report on Thursday, October 10th. Wells Fargo & Company decreased their price target on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Morgan Stanley lifted their price objective on EastGroup Properties from $158.00 to $186.00 and gave the company an "equal weight" rating in a research note on Thursday, August 22nd. Finally, Wedbush reissued an "outperform" rating and set a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of "Hold" and a consensus target price of $191.21.

About EastGroup Properties

EastGroup Properties, Inc NYSE: EGP, a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.