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

Mutual of America Capital Management LLC lessened its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 37,640 shares of the real estate investment trust’s stock after selling 470 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EastGroup Properties were worth $6,041,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in shares of EastGroup Properties by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 72 shares during the period. Principal Securities Inc. raised its stake in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 84 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in EastGroup Properties by 7.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 90 shares during the last quarter. Versant Capital Management Inc raised its stake in EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares during the last quarter. Finally, waypoint wealth counsel raised its stake in EastGroup Properties by 1.9% during the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP opened at $184.65 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61. The firm has a market capitalization of $9.61 billion, a P/E ratio of 39.71, a PEG ratio of 3.35 and a beta of 1.00. The business has a fifty day moving average of $169.58 and a 200 day moving average of $175.17.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company lowered 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. Robert W. Baird lifted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Morgan Stanley lowered their price objective on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective for the company. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.65.

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.