EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by FORA Capital LLC

FORA Capital LLC boosted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 6.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,319 shares of the real estate investment trust’s stock after buying an additional 392 shares during the period. FORA Capital LLC’s holdings in EastGroup Properties were worth $1,181,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EGP. B. Riley Wealth Advisors Inc. raised 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 valued at $396,000 after acquiring an additional 177 shares in the last quarter. Tidal Investments LLC raised its holdings in EastGroup Properties by 30.4% in 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 acquiring an additional 4,271 shares in the last quarter. Atria Investments Inc raised its holdings 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 valued at $2,047,000 after acquiring an additional 3,740 shares in the last quarter. 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 valued at $171,399,000 after acquiring an additional 197,427 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in 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 valued at $62,000 after acquiring an additional 80 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on EGP shares. Morgan Stanley boosted their target price on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Mizuho upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $175.00 to $200.00 in a research note on Thursday, September 5th. Wedbush reiterated an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. Evercore ISI boosted 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. Finally, Royal Bank of Canada reiterated 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Stock Performance

Shares of EGP opened at $173.84 on Thursday. The firm has a 50-day moving average price of $178.44 and a 200 day moving average price of $177.19. The firm has a market capitalization of $8.61 billion, a PE ratio of 35.92, a P/E/G ratio of 2.25 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, Inc. has a 52-week low of $155.23 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP) last announced 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 company 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%. The business’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, sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

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.