EastGroup Properties, Inc. (EGP) Stake Lifted by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,915 shares of the real estate investment trust’s stock after purchasing an additional 186 shares during the period. Ameritas Investment Partners Inc.’s holdings in EastGroup Properties were worth $244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in shares of EastGroup Properties by 11.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 352,151 shares of the real estate investment trust’s stock valued at $29,511,000 after purchasing an additional 36,154 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of EastGroup Properties by 2.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,450,299 shares of the real estate investment trust’s stock worth $205,335,000 after acquiring an additional 66,858 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of EastGroup Properties by 25.9% during the 2nd quarter. Principal Financial Group Inc. now owns 669,443 shares of the real estate investment trust’s stock worth $56,099,000 after acquiring an additional 137,591 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of EastGroup Properties during the 2nd quarter worth $513,000. Finally, Foster & Motley Inc. lifted its holdings in shares of EastGroup Properties by 3.6% during the 2nd quarter. Foster & Motley Inc. now owns 42,960 shares of the real estate investment trust’s stock worth $3,600,000 after acquiring an additional 1,497 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

A number of analysts have recently issued reports on EGP shares. Zacks Investment Research raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Tuesday, July 11th. ValuEngine raised shares of EastGroup Properties from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Sandler O’Neill raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $104.00 in a report on Tuesday, September 5th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $75.00 price objective on shares of EastGroup Properties in a report on Tuesday, July 25th. Finally, Bank of America Corporation raised shares of EastGroup Properties from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $91.00 to $96.00 in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. EastGroup Properties currently has an average rating of “Hold” and a consensus price target of $86.08.

Shares of EastGroup Properties, Inc. (EGP) opened at 90.81 on Monday. EastGroup Properties, Inc. has a 1-year low of $63.99 and a 1-year high of $93.61. The firm has a 50-day moving average of $89.95 and a 200 day moving average of $84.78. The company has a market capitalization of $3.10 billion, a P/E ratio of 38.06 and a beta of 0.98.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.61. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.70%. The business had revenue of $68.75 million during the quarter, compared to analyst estimates of $68.74 million. During the same quarter last year, the business earned $1.04 earnings per share. EastGroup Properties’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that EastGroup Properties, Inc. will post $2.42 EPS for the current year.

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EastGroup Properties Profile

EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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