Healthcare of Ontario Pension Plan Trust Fund Purchases New Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 21,000 shares of the real estate investment trust's stock, valued at approximately $3,923,000.

A number of other institutional investors have also recently added to or reduced their stakes in EGP. B. Riley Wealth Advisors Inc. grew 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 last quarter. Atria Investments Inc raised its stake in 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 valued at $2,047,000 after purchasing an additional 3,740 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in EastGroup Properties by 30.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust's stock valued at $62,000 after purchasing an additional 80 shares during the last quarter. Versant Capital Management Inc boosted its holdings in EastGroup Properties by 10,000.0% in the 2nd quarter. Versant Capital Management Inc now owns 404 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 400 shares during the period. Finally, Mendota Financial Group LLC acquired a new stake in EastGroup Properties in the 2nd quarter worth $111,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EGP has been the subject of several research reports. Evercore ISI increased their target price on shares of EastGroup Properties from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, October 7th. Morgan Stanley raised their price objective 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. StockNews.com cut EastGroup Properties from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Mizuho upgraded shares of EastGroup Properties from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $175.00 to $200.00 in a research report on Thursday, September 5th. Finally, Wells Fargo & Company decreased their price target on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $191.21.

EastGroup Properties Stock Performance

Shares of EGP stock traded down $1.63 on Friday, reaching $172.21. The stock had a trading volume of 156,195 shares, compared to its average volume of 337,167. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.24 and a beta of 1.00. The firm's 50-day moving average is $177.48 and its two-hundred day moving average is $177.30. 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 released its quarterly earnings data 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 business had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. EastGroup Properties's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS. On average, research analysts expect that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

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.