Quantinno Capital Management LP Raises Stake in EastGroup Properties, Inc. (NYSE:EGP)

Quantinno Capital Management LP raised its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,787 shares of the real estate investment trust's stock after purchasing an additional 16,689 shares during the quarter. Quantinno Capital Management LP owned 0.09% of EastGroup Properties worth $7,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in EastGroup Properties by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock valued at $1,121,978,000 after acquiring an additional 72,199 shares during the period. Cohen & Steers Inc. grew its holdings in shares of EastGroup Properties by 141.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock valued at $458,347,000 after purchasing an additional 1,673,663 shares in the last quarter. FMR LLC increased its stake in EastGroup Properties by 1.4% during the 4th quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust's stock worth $253,496,000 after buying an additional 21,432 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in EastGroup Properties by 24.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock valued at $226,888,000 after buying an additional 273,217 shares during the period. Finally, Boston Partners grew its stake in shares of EastGroup Properties by 34.1% in the fourth quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock worth $169,533,000 after acquiring an additional 268,359 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EGP has been the subject of a number of recent research reports. Raymond James reissued a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Evercore ISI upped their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price target on shares of EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating for the company in a report on Monday. Truist Financial reduced their price objective on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $186.60.

EastGroup Properties Price Performance

Shares of EGP traded down $1.66 during mid-day trading on Tuesday, hitting $171.04. The company's stock had a trading volume of 243,002 shares, compared to its average volume of 371,962. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.61. The firm has a market capitalization of $8.98 billion, a P/E ratio of 36.78, a P/E/G ratio of 3.35 and a beta of 1.05. The firm has a 50-day simple moving average of $166.37 and a 200 day simple moving average of $169.43.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, topping the consensus estimate of $2.11 by $0.01. The company had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The business's revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. Analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $1.40 dividend. The ex-dividend date was Monday, March 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 122.54%.

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.