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

Vision Capital Corp purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 98,000 shares of the real estate investment trust’s stock, valued at approximately $18,308,000. EastGroup Properties accounts for about 3.0% of Vision Capital Corp’s investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in EGP. V Square Quantitative Management LLC lifted its position in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 61 shares during the period. EverSource Wealth Advisors LLC raised its position 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 worth $62,000 after acquiring an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of EastGroup Properties by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 90 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in shares of EastGroup Properties by 4.9% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 2,085 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 98 shares during the period. Finally, Nisa Investment Advisors LLC grew 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 worth $5,328,000 after purchasing an additional 103 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on EGP shares. Wedbush restated an “outperform” rating and issued a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. Truist Financial dropped 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. Barclays cut their price objective on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. KeyCorp increased their price objective on shares of EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Stock Up 1.6 %

Shares of EGP opened at $171.98 on Monday. EastGroup Properties, Inc. has a 1 year low of $155.23 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a 50 day simple moving average of $179.14 and a two-hundred day simple moving average of $177.08. The firm has a market cap of $8.51 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last issued 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). The business had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. EastGroup Properties’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 EPS. On average, analysts forecast 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.