EastGroup Properties, Inc. (NYSE:EGP) Shares Bought by Eventide Asset Management LLC

Eventide Asset Management LLC raised its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 20.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,661 shares of the real estate investment trust’s stock after purchasing an additional 31,790 shares during the quarter. Eventide Asset Management LLC owned about 0.38% of EastGroup Properties worth $35,246,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. V Square Quantitative Management LLC increased its stake in EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 61 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of EastGroup Properties by 30.2% during the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of EastGroup Properties by 7.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 90 shares during the period. Azzad Asset Management Inc. ADV increased its stake in shares of EastGroup Properties by 4.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 2,085 shares of the real estate investment trust’s stock worth $389,000 after acquiring an additional 98 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of EastGroup Properties by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 31,093 shares of the real estate investment trust’s stock worth $5,328,000 after acquiring an additional 103 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Up 1.0 %

Shares of NYSE EGP opened at $173.84 on Friday. EastGroup Properties, Inc. has a 12-month low of $155.23 and a 12-month high of $192.61. The company has a market capitalization of $8.61 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. 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 firm’s 50-day moving average is $177.77 and its two-hundred day moving average is $177.15.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EGP shares. StockNews.com lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Mizuho upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. 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. Royal Bank of Canada restated a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their target price on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $191.21.

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.