EastGroup Properties, Inc. (NYSE:EGP) Position Reduced by Wolverine Trading LLC

Posted by Defense World Staff on Mar 6th, 2023

Wolverine Trading LLC cut its position in shares of EastGroup Properties, Inc. (NYSE:EGP – Get Rating) by 21.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,658 shares of the real estate investment trust’s stock after selling 442 shares during the quarter. Wolverine Trading LLC’s holdings in EastGroup Properties were worth $234,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Group One Trading L.P. acquired a new position in shares of EastGroup Properties in the 1st quarter valued at about $41,000. C M Bidwell & Associates Ltd. acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at about $44,000. Wipfli Financial Advisors LLC acquired a new position in shares of EastGroup Properties in the 3rd quarter valued at about $44,000. Ellevest Inc. increased its holdings in shares of EastGroup Properties by 79.5% in the 3rd quarter. Ellevest Inc. now owns 341 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 151 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of EastGroup Properties by 26.8% in the 2nd quarter. Lazard Asset Management LLC now owns 572 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 121 shares during the period. 89.48% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 0.9 %

Shares of EGP stock opened at $167.39 on Monday. EastGroup Properties, Inc. has a 12 month low of $137.47 and a 12 month high of $217.46. The business’s 50 day moving average is $161.75 and its two-hundred day moving average is $157.19. The company has a market cap of $7.29 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EGP shares. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price on shares of EastGroup Properties in a report on Wednesday, February 8th. Wells Fargo & Company increased their price objective on EastGroup Properties from $140.00 to $160.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 22nd. Truist Financial increased their price objective on EastGroup Properties from $170.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, February 21st. Robert W. Baird increased their price objective on EastGroup Properties from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Finally, KeyCorp upgraded EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $170.00 price objective on the stock in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $169.80.

EastGroup Properties Profile

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust, which engages in the development, acquisition, and operation of industrial properties. The company was founded in 1969 and is headquartered in Ridgeland, MS.