Cynosure Group LLC Sells 13,689 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Cynosure Group LLC lessened its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 87.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,942 shares of the real estate investment trust's stock after selling 13,689 shares during the period. Cynosure Group LLC's holdings in EastGroup Properties were worth $363,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EGP. B. Riley Wealth Advisors Inc. raised its position in shares of EastGroup Properties by 8.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,361 shares of the real estate investment trust's stock valued at $396,000 after purchasing an additional 177 shares during the period. Tidal Investments LLC grew its position in EastGroup Properties by 30.4% in the 1st quarter. Tidal Investments LLC now owns 18,316 shares of the real estate investment trust's stock worth $3,293,000 after purchasing an additional 4,271 shares during the last quarter. Atria Investments Inc increased its holdings in shares of EastGroup Properties by 48.9% during the 1st quarter. Atria Investments Inc now owns 11,389 shares of the real estate investment trust's stock worth $2,047,000 after purchasing an additional 3,740 shares during the period. Boston Partners raised its position in shares of EastGroup Properties by 26.1% during the first quarter. Boston Partners now owns 953,736 shares of the real estate investment trust's stock valued at $171,399,000 after buying an additional 197,427 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of EastGroup Properties by 30.2% in 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 period. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Price Performance

EastGroup Properties stock traded down $1.63 on Friday, reaching $172.21. The company's stock had a trading volume of 156,194 shares, compared to its average volume of 302,878. The business's fifty day moving average price is $177.77 and its 200 day moving average price is $177.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 2.26 and a beta of 1.00.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted 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 company had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 EPS. Equities analysts expect that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EGP has been the subject of several recent research reports. Truist Financial cut their price target on EastGroup Properties from $190.00 to $186.00 and set a "hold" rating for the company in a report on Wednesday, November 13th. Morgan Stanley increased their price objective on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an "equal weight" rating in a research note on Thursday, August 22nd. Wedbush reissued an "outperform" rating and issued a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. Barclays cut their price target on shares of EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $186.00 price objective on shares of EastGroup Properties in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $191.21.

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.