Charles Schwab Investment Management Inc. Boosts Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Charles Schwab Investment Management Inc. increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 639,800 shares of the real estate investment trust's stock after buying an additional 22,328 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.29% of EastGroup Properties worth $119,527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EGP. Gradient Investments LLC acquired a new position in shares of EastGroup Properties during the second quarter worth approximately $32,000. V Square Quantitative Management LLC raised its holdings in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock worth $35,000 after buying an additional 61 shares during the last quarter. Quest Partners LLC lifted its stake in shares of EastGroup Properties by 10,400.0% in the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 208 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 valued at $62,000 after buying an additional 80 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of EastGroup Properties during the second quarter worth about $66,000. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

Shares of EGP stock traded down $1.23 during trading hours on Tuesday, hitting $172.14. 199,397 shares of the company were exchanged, compared to its average volume of 303,975. EastGroup Properties, Inc. has a 52-week low of $155.23 and a 52-week high of $192.61. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $178.80 and a 200 day simple moving average of $177.14. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 35.61, a P/E/G ratio of 2.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its 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 firm had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts predict that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $186.00 price target on shares of EastGroup Properties in a research report on Wednesday, October 30th. Wedbush restated an "outperform" rating and issued a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. StockNews.com cut EastGroup Properties from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Morgan Stanley increased their price target on EastGroup Properties from $158.00 to $186.00 and gave the company an "equal weight" rating in a research report on Thursday, August 22nd. Finally, Truist Financial cut their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating on the stock in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average 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.