21,000 Shares in EastGroup Properties, Inc. (NYSE:EGP) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,000 shares of the real estate investment trust’s stock, valued at approximately $3,923,000.

A number of other hedge funds also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its stake in shares of EastGroup Properties by 35.2% in the third quarter. Glenmede Trust Co. NA now owns 1,916 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 499 shares during the period. BNP Paribas Financial Markets lifted its holdings in EastGroup Properties by 257.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,075 shares of the real estate investment trust’s stock worth $8,608,000 after buying an additional 33,182 shares in the last quarter. D.A. Davidson & CO. boosted its position in EastGroup Properties by 36.8% in the 3rd quarter. D.A. Davidson & CO. now owns 1,674 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 450 shares during the last quarter. FMR LLC grew its stake in shares of EastGroup Properties by 67.9% during the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after acquiring an additional 629,827 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of EastGroup Properties by 11.9% during the third quarter. Bank of Montreal Can now owns 13,061 shares of the real estate investment trust’s stock worth $2,451,000 after acquiring an additional 1,392 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Mizuho upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $175.00 to $200.00 in a research note on Thursday, September 5th. Morgan Stanley raised their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Wedbush reaffirmed an “outperform” rating and issued a $209.00 price target on shares of EastGroup Properties in a report on Friday, October 25th. Wells Fargo & Company decreased their price objective on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Truist Financial cut their target price on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $191.21.

EastGroup Properties Stock Down 0.9 %

NYSE:EGP opened at $172.21 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $177.48 and a 200-day moving average of $177.21. The firm has a market capitalization of $8.53 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. EastGroup Properties, Inc. has a 52 week low of $155.23 and a 52 week 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 EPS 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 return on equity of 8.56% and a net margin of 37.19%. EastGroup Properties’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 earnings per share. Analysts predict that EastGroup Properties, Inc. will post 8.36 EPS for the current 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.