Charles Schwab Investment Management Inc. Purchases 22,328 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Charles Schwab Investment Management Inc. boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 639,800 shares of the real estate investment trust’s stock after acquiring an additional 22,328 shares during the period. Charles Schwab Investment Management Inc. owned 1.29% of EastGroup Properties worth $119,527,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of EastGroup Properties during the third quarter worth approximately $206,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in EastGroup Properties during the third quarter worth $3,462,000. Pathstone Holdings LLC lifted its stake in shares of EastGroup Properties by 0.8% in the third quarter. Pathstone Holdings LLC now owns 67,602 shares of the real estate investment trust’s stock valued at $12,632,000 after buying an additional 542 shares in the last quarter. OneAscent Wealth Management LLC acquired a new position in shares of EastGroup Properties during the third quarter valued at about $399,000. Finally, Quest Partners LLC increased its position in shares of EastGroup Properties by 3,258.6% during the third quarter. Quest Partners LLC now owns 7,053 shares of the real estate investment trust’s stock worth $1,318,000 after acquiring an additional 6,843 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Up 0.9 %

EGP opened at $173.47 on Tuesday. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. The company’s 50-day moving average price is $178.80 and its two-hundred day moving average price is $177.14. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 2.23 and a beta of 1.00. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties (NYSE:EGP) last posted 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 period last year, the firm posted $1.95 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts expect that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

Analysts Set New Price Targets

EGP has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $186.00 price target on shares of EastGroup Properties in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd. KeyCorp increased their price target on EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company dropped 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. Finally, StockNews.com lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $191.21.

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.