Raymond James Financial Services Advisors Inc. Has $403,000 Position in EastGroup Properties, Inc. (EGP)

Raymond James Financial Services Advisors Inc. increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 30.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,803 shares of the real estate investment trust’s stock after acquiring an additional 1,112 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in EastGroup Properties were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in EastGroup Properties by 1.4% during the second quarter. Vanguard Group Inc. now owns 5,481,319 shares of the real estate investment trust’s stock worth $459,334,000 after acquiring an additional 73,355 shares during the period. BlackRock Inc. grew its holdings in EastGroup Properties by 2.6% during the second quarter. BlackRock Inc. now owns 4,961,740 shares of the real estate investment trust’s stock worth $415,793,000 after acquiring an additional 124,476 shares during the period. JPMorgan Chase & Co. grew its holdings in EastGroup Properties by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 2,450,299 shares of the real estate investment trust’s stock worth $205,335,000 after acquiring an additional 66,858 shares during the period. State Street Corp grew its holdings in EastGroup Properties by 3.8% during the second quarter. State Street Corp now owns 1,299,564 shares of the real estate investment trust’s stock worth $108,905,000 after acquiring an additional 47,824 shares during the period. Finally, Uniplan Investment Counsel Inc. grew its holdings in EastGroup Properties by 42.9% during the second quarter. Uniplan Investment Counsel Inc. now owns 779,163 shares of the real estate investment trust’s stock worth $46,349,000 after acquiring an additional 233,802 shares during the period. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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EastGroup Properties, Inc. (NYSE:EGP) opened at $91.92 on Monday. The stock has a market capitalization of $3,164.32, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 5.05 and a beta of 0.98. EastGroup Properties, Inc. has a 1 year low of $63.99 and a 1 year high of $93.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.61. The company had revenue of $68.75 million for the quarter, compared to the consensus estimate of $68.74 million. EastGroup Properties had a return on equity of 11.70% and a net margin of 30.03%. EastGroup Properties’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 earnings per share. analysts expect that EastGroup Properties, Inc. will post 4.23 earnings per share for the current fiscal year.

EGP has been the topic of several analyst reports. Zacks Investment Research raised EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Tuesday, July 11th. ValuEngine raised EastGroup Properties from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Sandler O’Neill raised EastGroup Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $90.00 to $104.00 in a report on Tuesday, September 5th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $75.00 target price on shares of EastGroup Properties in a report on Tuesday, July 25th. Finally, Bank of America Corporation raised EastGroup Properties from a “neutral” rating to a “buy” rating and raised their target price for the stock from $91.00 to $96.00 in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $87.25.

EastGroup Properties Profile

EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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