Vision Capital Corp Takes $18.31 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

Vision Capital Corp acquired a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 98,000 shares of the real estate investment trust’s stock, valued at approximately $18,308,000. EastGroup Properties comprises about 3.0% of Vision Capital Corp’s portfolio, making the stock its 11th biggest position. Vision Capital Corp owned approximately 0.20% of EastGroup Properties as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EGP. Gradient Investments LLC acquired a new position in EastGroup Properties during the 2nd quarter worth $32,000. V Square Quantitative Management LLC increased its position in EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 61 shares during the period. Quest Partners LLC lifted its position in EastGroup Properties by 10,400.0% during the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 208 shares during the period. EverSource Wealth Advisors LLC raised its holdings in EastGroup Properties by 30.2% in the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 80 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at $66,000. 92.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EGP. KeyCorp lifted their target price on EastGroup Properties from $178.00 to $198.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $186.00 price objective on shares of EastGroup Properties in a research report on Wednesday, October 30th. StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Morgan Stanley upped their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. Finally, Truist Financial dropped their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $171.98 on Monday. The firm has a market cap of $8.51 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The stock’s fifty day moving average price is $179.14 and its two-hundred day moving average price is $177.08. EastGroup Properties, Inc. has a one year low of $155.23 and a one year high of $192.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The company had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. During the same quarter in the previous year, the business posted $1.95 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts expect that EastGroup Properties, Inc. will post 8.36 EPS 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.