EastGroup Properties, Inc. (NYSE:EGP) Stock Holdings Decreased by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 52.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,996 shares of the real estate investment trust's stock after selling 194,739 shares during the quarter. Wellington Management Group LLP owned 0.36% of EastGroup Properties worth $32,880,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Worldquant Millennium Advisors LLC grew its stake in EastGroup Properties by 36.1% during the third quarter. Worldquant Millennium Advisors LLC now owns 3,118 shares of the real estate investment trust's stock worth $583,000 after buying an additional 827 shares during the period. Two Sigma Advisers LP boosted its stake in shares of EastGroup Properties by 36.7% in the third quarter. Two Sigma Advisers LP now owns 113,900 shares of the real estate investment trust's stock valued at $21,279,000 after purchasing an additional 30,600 shares during the period. State Street Corp boosted its stake in shares of EastGroup Properties by 2.1% in the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust's stock valued at $456,872,000 after purchasing an additional 49,268 shares during the period. Quantinno Capital Management LP raised its holdings in EastGroup Properties by 65.5% in the third quarter. Quantinno Capital Management LP now owns 29,098 shares of the real estate investment trust's stock valued at $5,436,000 after acquiring an additional 11,513 shares in the last quarter. Finally, Quarry LP acquired a new stake in EastGroup Properties in the third quarter valued at $102,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on shares of EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. StockNews.com cut shares of EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Mizuho raised shares of EastGroup Properties from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $175.00 to $200.00 in a report on Thursday, September 5th. Finally, Morgan Stanley increased their target price on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an "equal weight" rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.80.

EastGroup Properties Price Performance

EGP traded up $1.07 on Friday, reaching $170.69. The company had a trading volume of 113,799 shares, compared to its average volume of 301,336. The company has a fifty day moving average of $174.60 and a 200-day moving average of $177.55. The company has a market capitalization of $8.45 billion, a P/E ratio of 35.02, a PEG ratio of 2.22 and a beta of 0.99. 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 one year low of $155.23 and a one year high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its 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). The company had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS. As a group, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

EastGroup Properties Announces Dividend

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

EastGroup Properties Company 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.