Quantbot Technologies LP Reduces Position in EastGroup Properties, Inc. (NYSE:EGP)

Quantbot Technologies LP lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 10.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,676 shares of the real estate investment trust’s stock after selling 687 shares during the period. Quantbot Technologies LP’s holdings in EastGroup Properties were worth $1,060,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC raised 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 valued at $35,000 after buying an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in EastGroup Properties by 7.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 90 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in EastGroup Properties by 4.9% in the third quarter. Azzad Asset Management Inc. ADV now owns 2,085 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 98 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in EastGroup Properties by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 31,093 shares of the real estate investment trust’s stock valued at $5,328,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EGP. Truist Financial reduced their price target 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. StockNews.com lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Wedbush reaffirmed an “outperform” rating and issued a $209.00 price target on shares of EastGroup Properties in a report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $186.00 price objective on shares of EastGroup Properties in a research note on Wednesday, October 30th. Finally, Evercore ISI raised their target price on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, EastGroup Properties presently has an average rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Trading Down 0.9 %

Shares of EGP opened at $172.21 on Friday. The stock’s 50-day moving average price is $177.48 and its 200 day moving average price is $177.21. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.26 and a beta of 1.00. EastGroup Properties, Inc. has a 12-month low of $155.23 and a 12-month high of $192.61.

EastGroup Properties (NYSE:EGP) 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 analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. During the same quarter in the prior year, the firm posted $1.95 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts predict that EastGroup Properties, Inc. will post 8.36 earnings per share for the current 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.