California State Teachers Retirement System reduced its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,839 shares of the real estate investment trust’s stock after selling 3,433 shares during the period. California State Teachers Retirement System owned about 0.17% of EastGroup Properties worth $4,931,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. First Mercantile Trust Co. boosted its position in shares of EastGroup Properties by 1.8% during the 2nd quarter. First Mercantile Trust Co. now owns 1,720 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 30 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of EastGroup Properties by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,454 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 234 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of EastGroup Properties by 25.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,500 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 500 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of EastGroup Properties during the 2nd quarter valued at about $216,000. Finally, Advisor Group Inc. boosted its position in shares of EastGroup Properties by 17.7% during the 2nd quarter. Advisor Group Inc. now owns 2,747 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 414 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Several analysts have recently weighed in on EGP shares. ValuEngine upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Sandler O’Neill upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and lifted their target price for the company from $90.00 to $104.00 in a research report on Tuesday, September 5th. Zacks Investment Research upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Monday, October 2nd. Bank of America Corporation upgraded shares of EastGroup Properties from a “neutral” rating to a “buy” rating and lifted their target price for the company from $91.00 to $96.00 in a research report on Wednesday, August 16th. Finally, DA Davidson set a $100.00 price target on shares of EastGroup Properties and gave the company a “hold” rating in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $87.25.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.61. The business had revenue of $68.75 million during the quarter, compared to analyst estimates of $68.74 million. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.70%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS.

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About EastGroup Properties

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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