Swiss National Bank Sells 300 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Swiss National Bank cut its position in EastGroup Properties, Inc. (NYSE:EGP) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,987 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Swiss National Bank owned about 0.19% of EastGroup Properties worth $17,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gradient Investments LLC acquired a new stake in shares of EastGroup Properties during the second quarter worth $32,000. V Square Quantitative Management LLC raised its stake in 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 in the last quarter. Quest Partners LLC boosted its holdings in EastGroup Properties by 10,400.0% in the 2nd 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 boosted its holdings in 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 period. Finally, Headlands Technologies LLC acquired a new position in shares of EastGroup Properties during the 2nd quarter worth approximately $66,000. 92.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EGP. KeyCorp boosted their price target on EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. Barclays decreased their price target on EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company cut their price objective on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Wedbush reissued an “outperform” rating and issued a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. One equities 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’s stock. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and an average target price of $191.21.

EastGroup Properties Trading Down 1.1 %

NYSE EGP opened at $169.19 on Friday. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. 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 business’s fifty day moving average is $179.45 and its 200 day moving average is $176.77.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). The firm had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.95 earnings per share. As a group, sell-side analysts expect that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

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.