FORA Capital LLC Raises Stake in EastGroup Properties, Inc. (NYSE:EGP)

FORA Capital LLC lifted its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,319 shares of the real estate investment trust’s stock after buying an additional 392 shares during the quarter. FORA Capital LLC’s holdings in EastGroup Properties were worth $1,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EGP. B. Riley Wealth Advisors Inc. grew its holdings in shares of EastGroup Properties by 8.1% during 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 in the last quarter. Tidal Investments LLC grew its holdings 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 worth $3,293,000 after buying an additional 4,271 shares in the last quarter. Atria Investments Inc grew its holdings in shares of EastGroup Properties by 48.9% during the first quarter. Atria Investments Inc now owns 11,389 shares of the real estate investment trust’s stock worth $2,047,000 after buying an additional 3,740 shares in the last quarter. Boston Partners grew its holdings in shares of EastGroup Properties by 26.1% during the first quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock worth $171,399,000 after buying an additional 197,427 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 purchasing an additional 80 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Trading Up 1.0 %

NYSE EGP opened at $173.84 on Thursday. The company’s fifty day simple moving average is $178.44 and its 200-day simple moving average is $177.19. EastGroup Properties, Inc. has a 52 week low of $155.23 and a 52 week high of $192.61. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $8.61 billion, a P/E ratio of 35.92, a PEG ratio of 2.25 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS 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 firm had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. During the same period in the previous year, the firm posted $1.95 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. 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 report on Thursday, August 22nd. 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 report on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. Truist Financial lowered their target price on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.