Institutional Investors Lead Shift in Eastgroup Properties Inc (NYSE:EGP) Sentiment

July 17, 2017 - By Clifton Ray

 Institutional Investors Lead Shift in Eastgroup Properties Inc (NYSE:EGP) Sentiment

Sentiment for Eastgroup Properties Inc (NYSE:EGP)

Eastgroup Properties Inc (NYSE:EGP) institutional sentiment decreased to 1.23 in 2016 Q4. Its down -0.27, from 1.5 in 2016Q3. The ratio fall, as 100 hedge funds started new and increased equity positions, while 81 trimmed and sold holdings in Eastgroup Properties Inc. The hedge funds in our partner’s database now possess: 29.28 million shares, down from 30.66 million shares in 2016Q3. Also, the number of hedge funds holding Eastgroup Properties Inc in their top 10 equity positions was flat from 0 to 0 for the same number . Sold All: 18 Reduced: 63 Increased: 73 New Position: 27.

EastGroup Properties, Inc. is an equity real estate investment trust . The company has market cap of $2.86 billion. The Firm 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. It has a 31.66 P/E ratio. The Firm holds its properties as long-term investments but may determine to sell certain properties that no longer meet its investment criteria.

About 173,292 shares traded. Eastgroup Properties Inc (NYSE:EGP) has risen 30.21% since July 17, 2016 and is uptrending. It has outperformed by 13.51% the S&P500.

Investors wait Eastgroup Properties Inc (NYSE:EGP) to report on July, 19. its quarterly earnings Wall Street analysts expect $1.05 EPS, up $0.06 or 6.06 % from last year’s $0.99 same quarter earnings. This translates into $36.04M profit for EGP giving the stock a 19.84 P/E. This is assuming the current $1.05 EPS is accurate. Eastgroup Properties Inc’s Wall Street analysts see 6.06 % EPS growth, taking into account the $0.99 EPS reproted in the previous quarter,

Chilton Capital Management Llc holds 1.28% of its portfolio in Eastgroup Properties Inc for 166,068 shares. Silvercrest Asset Management Group Llc owns 1.32 million shares or 1.09% of their US portfolio. Moreover, Ironbridge Capital Management Lp has 0.8% invested in the company for 243,048 shares. The Ohio-based Foster & Motley Inc has invested 0.55% in the stock. Parametrica Management Ltd, a Hong Kong-based fund reported 7,090 shares.#img1#

Since January 1, 0001, it had 0 insider buys, and 4 insider sales for $651,390 activity.

Eastgroup Properties Inc (NYSE:EGP) Ratings Coverage

Ratings analysis reveals 8% of Eastgroup Properties Inc.’s analysts are positive. Out of 12 Wall Street analysts rating Eastgroup Properties Inc., 1 give it “Buy”, 0 “Sell” rating, while 11 recommend “Hold”. The lowest target is $47 while the high is $83. The stock’s average target of $68.71 is -17.54% below today’s ($83.33) share price. EGP was included in 16 notes of analysts from August 20, 2015. The stock of Eastgroup Properties Inc (NYSE:EGP) has “Market Perform” rating given on Monday, January 9 by Raymond James. The firm earned “Underweight” rating on Tuesday, September 6 by Morgan Stanley. The rating was downgraded by Stifel Nicolaus on Friday, July 22 to “Hold”. Morgan Stanley upgraded Eastgroup Properties Inc (NYSE:EGP) rating on Wednesday, April 12. Morgan Stanley has “Equal-Weight” rating and $76 target. Evercore maintained Eastgroup Properties Inc (NYSE:EGP) rating on Tuesday, September 8. Evercore has “Hold” rating and $62 target. As per Thursday, August 20, the company rating was downgraded by Credit Suisse. On Thursday, August 25 the stock rating was initiated by BTIG Research with “Neutral”. The firm has “Hold” rating given on Friday, October 21 by Cantor Fitzgerald. Zacks downgraded the shares of EGP in report on Friday, August 21 to “Buy” rating. As per Friday, July 14, the company rating was maintained by Stifel Nicolaus.

More important recent Eastgroup Properties Inc (NYSE:EGP) news were published by: Prnewswire.com which released: “EastGroup Properties Announces The Income Tax Treatment Of Its 2016 Distributions” on January 26, 2017, also Seekingalpha.com published article titled: “EastGroup Properties’ (EGP) CEO Marshall Loeb on Q1 2017 Results – Earnings …”, Prnewswire.com published: “EastGroup Properties Announces CFO Transition” on March 03, 2017. More interesting news about Eastgroup Properties Inc (NYSE:EGP) was released by: Seekingalpha.com and their article: “EastGroup Vs. STAG Industrial: A Tale Of 2 Strategies” with publication date: May 03, 2017.

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