EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. lessened its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 11.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 483,426 shares of the real estate investment trust's stock after selling 62,904 shares during the quarter. Eagle Asset Management Inc. owned 0.98% of EastGroup Properties worth $85,083,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Gradient Investments LLC purchased a new position in shares of EastGroup Properties in the 2nd quarter valued at $32,000. V Square Quantitative Management LLC raised its position 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. Quest Partners LLC lifted its stake in shares of 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 worth $36,000 after purchasing an additional 208 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position 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 worth $62,000 after buying an additional 80 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of EastGroup Properties in the second quarter worth about $66,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

Shares of NYSE:EGP traded up $3.14 on Friday, reaching $172.42. 177,993 shares of the company's stock were exchanged, compared to its average volume of 303,417. The business's 50-day moving average is $179.45 and its two-hundred day moving average is $176.77. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties, Inc. has a fifty-two week low of $155.23 and a fifty-two week high of $192.61. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 2.26 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 analysts' consensus estimates of $2.10 by ($0.97). The business 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 was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 EPS. As a group, equities research analysts forecast that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EGP shares. KeyCorp boosted their price target on EastGroup Properties from $178.00 to $198.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 30th. Barclays decreased their target price 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. Evercore ISI lifted their price target on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. Morgan Stanley upped 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 report on Thursday, August 22nd. Finally, Mizuho raised EastGroup Properties from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $175.00 to $200.00 in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.