Daiwa Securities Group Inc. Lowers Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Daiwa Securities Group Inc. trimmed its stake in EastGroup Properties, Inc. (NYSE:EGP) by 1.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 227,859 shares of the real estate investment trust’s stock after selling 3,422 shares during the period. Daiwa Securities Group Inc. owned about 0.46% of EastGroup Properties worth $42,569,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in EastGroup Properties by 7.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 975,450 shares of the real estate investment trust’s stock valued at $175,359,000 after purchasing an additional 71,614 shares during the period. Boston Partners raised its holdings in shares of EastGroup Properties by 26.1% in the 1st quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock valued at $171,399,000 after buying an additional 197,427 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of EastGroup Properties by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust’s stock valued at $123,848,000 after buying an additional 53,083 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in EastGroup Properties by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust’s stock worth $119,527,000 after acquiring an additional 22,328 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in EastGroup Properties by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,323 shares of the real estate investment trust’s stock valued at $81,533,000 after acquiring an additional 2,418 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EGP has been the topic of several research reports. Mizuho raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $175.00 to $200.00 in a research report on Thursday, September 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. KeyCorp boosted their price target on shares of EastGroup Properties from $178.00 to $198.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Barclays lowered their target price on EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and a consensus target price of $191.21.

EastGroup Properties Trading Up 1.6 %

EGP opened at $171.98 on Friday. 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. The business’s 50 day moving average is $179.14 and its two-hundred day moving average is $176.97. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). The business had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm’s revenue for the quarter 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, research analysts predict that EastGroup Properties, Inc. will post 8.36 EPS 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.