Quantbot Technologies LP Has $1.06 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

Quantbot Technologies LP lowered its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,676 shares of the real estate investment trust’s stock after selling 687 shares during the quarter. Quantbot Technologies LP’s holdings in EastGroup Properties were worth $1,060,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gradient Investments LLC acquired a new position in EastGroup Properties during the 2nd quarter worth about $32,000. V Square Quantitative Management LLC increased its position 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 valued at $35,000 after acquiring an additional 61 shares in the last quarter. Quest Partners LLC raised its stake in shares of EastGroup Properties by 10,400.0% in the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 208 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EastGroup Properties by 30.2% during the first 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 shares of EastGroup Properties during the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of EGP stock opened at $172.21 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 12-month low of $155.23 and a 12-month high of $192.61. The firm has a fifty 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 price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. During the same period in the previous year, the firm posted $1.95 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EGP has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Evercore ISI upped their target price on shares of EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Truist Financial lowered their price target on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $186.00 price target on shares of EastGroup Properties in a research note on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $191.21.

EastGroup Properties Company 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.