Charles Schwab Investment Management Inc. Acquires 22,328 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Charles Schwab Investment Management Inc. increased its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 639,800 shares of the real estate investment trust’s stock after buying an additional 22,328 shares during the period. Charles Schwab Investment Management Inc.’s holdings in EastGroup Properties were worth $119,527,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Gradient Investments LLC purchased a new stake in shares of EastGroup Properties during the second quarter worth $32,000. V Square Quantitative Management LLC lifted its holdings in EastGroup Properties by 47.7% during the 3rd 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 in the last quarter. Quest Partners LLC boosted its stake in EastGroup Properties by 10,400.0% in the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the period. EverSource Wealth Advisors LLC grew its holdings in 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 in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of EastGroup Properties during the second quarter valued at about $66,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EGP shares. KeyCorp raised their price objective on shares of EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Barclays decreased 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. Wells Fargo & Company dropped 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 issued a $186.00 target price on shares of EastGroup Properties in a research note on Wednesday, October 30th. Finally, Evercore ISI raised their price target on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, EastGroup Properties presently has an average rating of “Hold” and a consensus target price of $191.21.

EastGroup Properties Stock Up 0.9 %

Shares of EGP opened at $173.47 on Tuesday. EastGroup Properties, Inc. has a 1 year low of $155.23 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a 50 day simple moving average of $178.80 and a two-hundred day simple moving average of $177.14. The firm has a market cap of $8.59 billion, a P/E ratio of 35.84, a P/E/G ratio of 2.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data 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 analysts’ expectations of $161.52 million. During the same period last year, the company posted $1.95 EPS. EastGroup Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts forecast that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal 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.