Daiwa Securities Group Inc. Reduces Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Daiwa Securities Group Inc. reduced its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,859 shares of the real estate investment trust's stock after selling 3,422 shares during the period. Daiwa Securities Group Inc. owned approximately 0.46% of EastGroup Properties worth $42,569,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EGP. Gradient Investments LLC bought a new stake in shares of EastGroup Properties during the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC raised 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 in the last quarter. Quest Partners LLC lifted its position in EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in EastGroup Properties by 30.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust's stock worth $62,000 after buying an additional 80 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of EastGroup Properties in the 2nd quarter worth $66,000. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Up 1.6 %

Shares of NYSE:EGP traded up $2.70 during trading on Friday, hitting $171.98. The stock had a trading volume of 360,296 shares, compared to its average volume of 380,771. The company has a market capitalization of $8.51 billion, a PE ratio of 35.53, a PEG ratio of 2.20 and a beta of 1.00. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm's fifty day moving average is $179.14 and its 200 day moving average is $176.97. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. During the same quarter last year, the company posted $1.95 EPS. EastGroup Properties's revenue for the quarter was up 11.2% compared to the same quarter last year. 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 firms recently commented on EGP. StockNews.com cut EastGroup Properties from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. Barclays decreased their price objective on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating on the stock in a report on Thursday, October 10th. Morgan Stanley boosted their target price on EastGroup Properties from $158.00 to $186.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 22nd. KeyCorp increased their price target on shares of EastGroup Properties from $178.00 to $198.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Finally, Wedbush restated an "outperform" rating and issued a $209.00 price objective on shares of EastGroup Properties in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, EastGroup Properties currently has a consensus rating of "Hold" and an average price target 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.