Vision Capital Corp Buys Shares of 98,000 EastGroup Properties, Inc. (NYSE:EGP)

Vision Capital Corp purchased a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 98,000 shares of the real estate investment trust's stock, valued at approximately $18,308,000. EastGroup Properties comprises 3.0% of Vision Capital Corp's investment portfolio, making the stock its 11th largest position. Vision Capital Corp owned approximately 0.20% of EastGroup Properties at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EGP. Gradient Investments LLC bought a new stake in shares of EastGroup Properties in the 2nd quarter worth about $32,000. V Square Quantitative Management LLC increased its stake in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 61 shares during the last quarter. Quest Partners LLC raised 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 period. EverSource Wealth Advisors LLC lifted its stake in shares of 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 valued at $62,000 after purchasing an additional 80 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of EastGroup Properties in the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on EGP shares. KeyCorp increased their price target on EastGroup Properties from $178.00 to $198.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Truist Financial dropped their price target on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating for the company in a research note on Wednesday, November 13th. Wedbush reiterated an "outperform" rating and set a $209.00 price target on shares of EastGroup Properties in a report on Friday, October 25th. Mizuho raised shares of EastGroup Properties from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $186.00 target price on shares of EastGroup Properties in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $191.21.

EastGroup Properties Stock Up 0.9 %

Shares of NYSE:EGP traded up $1.49 during trading hours on Monday, hitting $173.47. The company's stock had a trading volume of 332,025 shares, compared to its average volume of 304,433. The firm's fifty day moving average price is $179.14 and its 200 day moving average price is $177.08. EastGroup Properties, Inc. has a 52 week low of $155.23 and a 52 week high of $192.61. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share 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 company had revenue of $162.88 million for the quarter, compared to analysts' expectations of $161.52 million. During the same quarter in the prior year, the company earned $1.95 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. As a group, research analysts expect that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

EastGroup Properties Company 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.