Y Intercept Hong Kong Ltd Takes $611,000 Position in EastGroup Properties, Inc. (NYSE:EGP)

Y Intercept Hong Kong Ltd acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,269 shares of the real estate investment trust's stock, valued at approximately $611,000.

A number of other large investors have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of EastGroup Properties by 2.1% in the 3rd quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust's stock worth $456,872,000 after acquiring an additional 49,268 shares in the last quarter. FMR LLC boosted its stake in EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock worth $291,081,000 after purchasing an additional 629,827 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of EastGroup Properties by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust's stock worth $123,848,000 after purchasing an additional 53,083 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EastGroup Properties by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust's stock valued at $119,527,000 after buying an additional 22,328 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in EastGroup Properties by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,323 shares of the real estate investment trust's stock worth $81,533,000 after buying an additional 2,418 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EGP has been the subject of several research reports. Barclays lowered their price objective on shares of EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $186.00 price objective on shares of EastGroup Properties in a research report on Wednesday, October 30th. Wells Fargo & Company decreased their price objective on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Wedbush restated an "outperform" rating and set a $209.00 target price on shares of EastGroup Properties in a research report on Friday, October 25th. Finally, StockNews.com cut EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $191.80.

EastGroup Properties Stock Up 1.0 %

NYSE EGP traded up $1.63 during trading hours on Friday, reaching $171.25. 312,825 shares of the company's stock were exchanged, compared to its average volume of 302,229. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. EastGroup Properties, Inc. has a one year low of $155.23 and a one year high of $192.61. The company's 50-day moving average is $174.43 and its two-hundred day moving average is $177.88. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.22 and a beta of 0.99.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued 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 company had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The company's revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 earnings per share. On average, analysts forecast that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.27%. EastGroup Properties's dividend payout ratio (DPR) is 115.70%.

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.