Mutual of America Capital Management LLC Lowers Position in EastGroup Properties, Inc. (NYSE:EGP)

Mutual of America Capital Management LLC lowered its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,640 shares of the real estate investment trust’s stock after selling 470 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of EastGroup Properties worth $6,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new stake in shares of EastGroup Properties in the 4th quarter valued at about $3,967,000. Oppenheimer Asset Management Inc. increased its position in shares of EastGroup Properties by 1.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 16,585 shares of the real estate investment trust’s stock valued at $2,662,000 after purchasing an additional 191 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of EastGroup Properties by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust’s stock valued at $1,612,000 after purchasing an additional 100 shares during the last quarter. Canton Hathaway LLC bought a new position in shares of EastGroup Properties during the 4th quarter valued at about $30,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of EastGroup Properties during the 4th quarter valued at about $6,058,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on EGP shares. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Truist Financial increased their price objective on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Finally, Robert W. Baird increased their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus price target of $191.65.

EastGroup Properties Price Performance

Shares of EGP stock opened at $184.65 on Tuesday. The firm has a market cap of $9.61 billion, a P/E ratio of 39.71, a P/E/G ratio of 3.35 and a beta of 1.00. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The business’s 50 day moving average price is $169.58 and its 200-day moving average price is $175.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

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.