EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 227,859 shares of the real estate investment trust’s stock after selling 3,422 shares during the quarter. Daiwa Securities Group Inc.’s holdings in EastGroup Properties were worth $42,569,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ceredex Value Advisors LLC acquired a new position in shares of EastGroup Properties during the second quarter worth about $35,131,000. Boston Partners increased its position in EastGroup Properties by 26.1% during the 1st quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock worth $171,399,000 after purchasing an additional 197,427 shares during the period. Zimmer Partners LP raised its stake in shares of EastGroup Properties by 465.6% during the 1st quarter. Zimmer Partners LP now owns 200,558 shares of the real estate investment trust’s stock worth $36,054,000 after buying an additional 165,100 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of EastGroup Properties by 202.1% in the 2nd quarter. Millennium Management LLC now owns 188,336 shares of the real estate investment trust’s stock valued at $32,036,000 after buying an additional 125,991 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of EastGroup Properties by 7.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 975,450 shares of the real estate investment trust’s stock valued at $175,359,000 after buying an additional 71,614 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on 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 restated an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a research report on Friday, October 25th. KeyCorp lifted their price target 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. Mizuho upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $175.00 to $200.00 in a report on Thursday, September 5th. Finally, Wells Fargo & Company reduced their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, November 4th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $191.21.

EastGroup Properties Price Performance

NYSE:EGP opened at $171.98 on Friday. EastGroup Properties, Inc. has a 12-month low of $155.23 and a 12-month high of $192.61. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00. The company’s 50-day moving average is $179.14 and its two-hundred day moving average is $176.97. 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 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 the consensus estimate of $2.10 by ($0.97). The firm had revenue of $162.88 million for the quarter, compared to analysts’ expectations of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 EPS. Research analysts expect that EastGroup Properties, Inc. will post 8.36 EPS for the current 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.