Cynosure Group LLC Sells 13,689 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Cynosure Group LLC trimmed its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 87.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,942 shares of the real estate investment trust’s stock after selling 13,689 shares during the period. Cynosure Group LLC’s holdings in EastGroup Properties were worth $363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gradient Investments LLC bought a new stake in EastGroup Properties in the second quarter worth about $32,000. V Square Quantitative Management LLC raised its holdings in shares of EastGroup Properties by 47.7% in the 3rd 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 raised its holdings in shares of EastGroup Properties by 10,400.0% in the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the period. EverSource Wealth Advisors LLC lifted its stake 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 valued at $62,000 after purchasing an additional 80 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in EastGroup Properties during the second quarter valued at $66,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EGP has been the topic of several research reports. Barclays lowered their target price on EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a research report on Friday, October 25th. Truist Financial lowered their price target on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $186.00 price target on shares of EastGroup Properties in a research note on Wednesday, October 30th. One 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Trading Up 1.0 %

Shares of EGP stock opened at $173.84 on Friday. The company has a market capitalization of $8.61 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 2.25 and a beta of 1.00. EastGroup Properties, Inc. has a 52-week low of $155.23 and a 52-week high of $192.61. The business’s fifty day moving average is $178.13 and its 200 day moving average is $177.17. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $161.52 million. During the same period in the previous year, the business earned $1.95 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

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.