Cbre Investment Management Listed Real Assets LLC Makes New Investment in EastGroup Properties, Inc. (NYSE:EGP)

Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 53,625 shares of the real estate investment trust’s stock, valued at approximately $8,606,000.

Several other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of EastGroup Properties in the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of EastGroup Properties by 503.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 302 shares during the last quarter. Principal Securities Inc. boosted its position in shares of EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 84 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 95 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of EastGroup Properties in the third quarter worth approximately $102,000. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Down 0.3 %

Shares of NYSE EGP opened at $184.49 on Wednesday. The stock has a market cap of $9.60 billion, a PE ratio of 39.68, 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 two-hundred day moving average of $175.17. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on EGP. Raymond James upgraded shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $185.00 to $200.00 in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective for the company. Truist Financial lifted their price objective on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a report on Friday, February 14th. Robert W. Baird boosted their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.65.

EastGroup Properties Company 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.