Eventide Asset Management LLC Acquires 31,790 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Eventide Asset Management LLC lifted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 20.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,661 shares of the real estate investment trust's stock after acquiring an additional 31,790 shares during the quarter. Eventide Asset Management LLC owned approximately 0.38% of EastGroup Properties worth $35,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its holdings in 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 worth $396,000 after buying an additional 177 shares during the period. Tidal Investments LLC boosted its position in shares of EastGroup Properties by 30.4% during the first quarter. Tidal Investments LLC now owns 18,316 shares of the real estate investment trust's stock valued at $3,293,000 after purchasing an additional 4,271 shares in the last quarter. Atria Investments Inc grew its stake in EastGroup Properties by 48.9% in the first 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 holdings in EastGroup Properties by 26.1% in the first quarter. Boston Partners now owns 953,736 shares of the real estate investment trust's stock worth $171,399,000 after purchasing an additional 197,427 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in 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 period. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

Shares of NYSE EGP traded down $1.63 during trading on Friday, reaching $172.21. 156,195 shares of the company traded hands, compared to its average volume of 302,878. The firm has a 50 day simple moving average of $177.48 and a 200-day simple moving average of $177.21. EastGroup Properties, Inc. has a 52-week low of $155.23 and a 52-week high of $192.61. The stock has a market capitalization of $8.53 billion, a PE ratio of 35.58, a P/E/G ratio of 2.26 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.

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). The company had revenue of $162.88 million during the quarter, compared to analysts' expectations of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.95 EPS. Equities research analysts anticipate that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $186.00 price target on shares of EastGroup Properties in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Finally, Evercore ISI boosted their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.