Natixis Advisors LLC Increases Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Natixis Advisors LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,679 shares of the real estate investment trust’s stock after buying an additional 6,307 shares during the period. Natixis Advisors LLC owned approximately 0.11% of EastGroup Properties worth $9,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of EGP. Metis Global Partners LLC boosted its holdings in shares of EastGroup Properties by 31.3% in the 3rd quarter. Metis Global Partners LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $936,000 after acquiring an additional 1,193 shares during the last quarter. Curi RMB Capital LLC boosted its holdings in EastGroup Properties by 1.0% in the third quarter. Curi RMB Capital LLC now owns 128,662 shares of the real estate investment trust’s stock valued at $24,037,000 after purchasing an additional 1,283 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in EastGroup Properties by 11.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,394 shares of the real estate investment trust’s stock worth $3,063,000 after purchasing an additional 1,648 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of EastGroup Properties by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 31,502 shares of the real estate investment trust’s stock valued at $5,885,000 after buying an additional 4,240 shares during the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of EastGroup Properties by 16.1% in the 3rd quarter. WCM Investment Management LLC now owns 97,262 shares of the real estate investment trust’s stock valued at $18,254,000 after buying an additional 13,486 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Evercore ISI raised their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Mizuho raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. Morgan Stanley boosted their target price on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Barclays dropped 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 research report on Thursday, October 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $209.00 price objective on shares of EastGroup Properties in a research report on Friday, October 25th. One equities research 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Price Performance

NYSE:EGP opened at $169.19 on Friday. The firm has a market cap of $8.38 billion, a P/E ratio of 34.96, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The stock has a 50 day moving average of $179.45 and a two-hundred day moving average of $176.77. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. During the same period in the prior year, the company posted $1.95 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts expect 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.