Quantinno Capital Management LP Acquires 11,513 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Quantinno Capital Management LP increased its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 65.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,098 shares of the real estate investment trust's stock after purchasing an additional 11,513 shares during the period. Quantinno Capital Management LP owned 0.06% of EastGroup Properties worth $5,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EGP. Gradient Investments LLC acquired a new stake in EastGroup Properties in the 2nd quarter valued at approximately $32,000. V Square Quantitative Management LLC increased its holdings in shares of EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 61 shares during the period. Quest Partners LLC raised its stake in shares of EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Headlands Technologies LLC acquired a new stake in EastGroup Properties in the second quarter worth about $66,000. Finally, GAMMA Investing LLC lifted its holdings in EastGroup Properties by 90.7% in the third quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust's stock worth $100,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Stock Down 0.6 %

Shares of EastGroup Properties stock traded down $0.98 during midday trading on Friday, hitting $168.00. The company's stock had a trading volume of 193,209 shares, compared to its average volume of 291,072. EastGroup Properties, Inc. has a 1-year low of $155.23 and a 1-year high of $192.61. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $8.32 billion, a P/E ratio of 34.71, a PEG ratio of 2.21 and a beta of 0.99. The stock has a 50-day simple moving average of $175.55 and a 200-day simple moving average of $177.41.

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

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.33%. EastGroup Properties's payout ratio is 115.70%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Evercore ISI boosted their price target on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, October 7th. Morgan Stanley lifted their target price on EastGroup Properties from $158.00 to $186.00 and gave the stock an "equal weight" rating in a report on Thursday, August 22nd. Wedbush reissued an "outperform" rating and issued a $209.00 price target on shares of EastGroup Properties in a report on Friday, October 25th. Barclays dropped their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating on the stock in a report on Thursday, October 10th. Finally, StockNews.com cut shares of EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, EastGroup Properties currently has an average rating of "Hold" and an average price target of $191.21.

EastGroup Properties Profile

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.