Quantbot Technologies LP Has $475,000 Position in EastGroup Properties, Inc. (NYSE:EGP)

Quantbot Technologies LP lessened its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 47.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,961 shares of the real estate investment trust’s stock after selling 2,715 shares during the period. Quantbot Technologies LP’s holdings in EastGroup Properties were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EGP. Canton Hathaway LLC purchased a new position in EastGroup Properties during the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. grew its position in EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Principal Securities Inc. increased its stake in EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 84 shares during the period. Quarry LP purchased a new stake in EastGroup Properties in the 3rd quarter worth approximately $102,000. Finally, Versant Capital Management Inc boosted its stake in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.3 %

EastGroup Properties stock opened at $176.19 on Friday. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $9.17 billion, a PE ratio of 37.89, a PEG ratio of 3.35 and a beta of 0.99. The business’s 50-day simple moving average is $176.92 and its 200-day simple moving average is $174.59.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Equities research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Robert W. Baird increased their price objective on EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Morgan Stanley dropped their price objective on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Finally, Truist Financial boosted their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.47.

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.