Y Intercept Hong Kong Ltd Buys Shares of 3,269 EastGroup Properties, Inc. (NYSE:EGP)

Y Intercept Hong Kong Ltd bought a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,269 shares of the real estate investment trust’s stock, valued at approximately $611,000.

Several other large investors also recently bought and sold shares of EGP. FMR LLC grew its holdings 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 valued at $291,081,000 after purchasing an additional 629,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of EastGroup Properties by 355.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock valued at $73,158,000 after acquiring an additional 305,555 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of EastGroup Properties during the second quarter valued at $35,131,000. Millennium Management LLC boosted its stake in shares of EastGroup Properties by 202.1% during the second quarter. Millennium Management LLC now owns 188,336 shares of the real estate investment trust’s stock valued at $32,036,000 after acquiring an additional 125,991 shares during the last quarter. Finally, Vision Capital Corp acquired a new stake in shares of EastGroup Properties during the third quarter valued at $18,308,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley increased their price objective on EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $185.00 to $200.00 in a research note on Wednesday. Wells Fargo & Company reduced their target price 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. StockNews.com downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Evercore ISI increased their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.80.

EastGroup Properties Stock Performance

NYSE EGP opened at $171.25 on Friday. The firm has a market capitalization of $8.48 billion, a P/E ratio of 35.38, a P/E/G ratio of 2.22 and a beta of 0.99. EastGroup Properties, Inc. has a 1-year low of $155.23 and a 1-year high of $192.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The business’s 50-day simple moving average is $174.43 and its 200-day simple moving average is $177.75.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). The firm had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 earnings per share. Equities analysts predict that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

EastGroup Properties Announces Dividend

The company 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. This represents a $5.60 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is currently 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.