EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 4.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,335 shares of the real estate investment trust’s stock after selling 444 shares during the quarter. Victory Capital Management Inc.’s holdings in EastGroup Properties were worth $1,744,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EGP. Gradient Investments LLC purchased a new stake in shares of EastGroup Properties in the second quarter valued at approximately $32,000. V Square Quantitative Management LLC boosted its holdings in EastGroup Properties by 47.7% in 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 acquiring an additional 61 shares during the last quarter. Quest Partners LLC grew its stake in EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 208 shares during the period. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 80 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in EastGroup Properties during the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP opened at $171.98 on Monday. The stock has a 50 day moving average of $179.14 and a 200 day moving average of $177.08. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 2.20 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. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties (NYSE:EGP) last announced 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 company had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 earnings per share. As a group, sell-side analysts forecast that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI increased their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Wells Fargo & Company reduced their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and set a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. 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 stock. According to MarketBeat.com, EastGroup Properties has an average rating of “Hold” and an average target price 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.