Cerity Partners LLC Purchases 3,574 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Cerity Partners LLC grew its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 35.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,624 shares of the real estate investment trust’s stock after acquiring an additional 3,574 shares during the quarter. Cerity Partners LLC’s holdings in EastGroup Properties were worth $2,545,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EGP. Gradient Investments LLC purchased a new position in shares of EastGroup Properties during the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC grew its holdings in shares of 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 worth $35,000 after purchasing an additional 61 shares during the last quarter. Quest Partners LLC raised its position in EastGroup Properties by 10,400.0% during 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 last quarter. EverSource Wealth Advisors LLC raised 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 worth $62,000 after purchasing an additional 80 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in EastGroup Properties during the 2nd quarter valued at approximately $66,000. Institutional investors own 92.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EGP. Wells Fargo & Company lowered their price target 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. Morgan Stanley boosted their price target on EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Truist Financial decreased their price objective on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $209.00 price target on shares of EastGroup Properties in a research note on Friday, October 25th. Finally, Barclays reduced their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Stock Down 0.9 %

EastGroup Properties stock opened at $172.21 on Monday. 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 firm has a market cap of $8.53 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.24 and a beta of 1.00. The business has a fifty day moving average of $177.48 and a two-hundred day moving average of $177.30. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data 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 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%. EastGroup Properties’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period 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.