PNC Financial Services Group Inc. Boosts Position in EastGroup Properties, Inc. $EGP

PNC Financial Services Group Inc. raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 16.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,685 shares of the real estate investment trust’s stock after acquiring an additional 524 shares during the quarter. PNC Financial Services Group Inc.’s holdings in EastGroup Properties were worth $616,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EGP. Nuveen LLC purchased a new stake in shares of EastGroup Properties during the 1st quarter valued at about $190,456,000. Cbre Investment Management Listed Real Assets LLC grew its position in EastGroup Properties by 1,058.6% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock valued at $109,443,000 after buying an additional 567,678 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in EastGroup Properties by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock valued at $232,184,000 after buying an additional 342,620 shares during the last quarter. Millennium Management LLC raised its position in EastGroup Properties by 176.4% in the first quarter. Millennium Management LLC now owns 493,144 shares of the real estate investment trust’s stock worth $86,867,000 after acquiring an additional 314,738 shares during the period. Finally, Deutsche Bank AG raised its position in EastGroup Properties by 46.1% in the first quarter. Deutsche Bank AG now owns 705,834 shares of the real estate investment trust’s stock worth $124,333,000 after acquiring an additional 222,675 shares during the period. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Trading Up 2.3%

Shares of EGP stock opened at $179.74 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. The stock has a fifty day simple moving average of $173.66 and a two-hundred day simple moving average of $169.61. The firm has a market capitalization of $9.59 billion, a PE ratio of 37.76, a PEG ratio of 3.67 and a beta of 1.04. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $188.89.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The business had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same quarter in the previous year, the firm earned $2.13 earnings per share. EastGroup Properties’s revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. On average, analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EGP shares. Royal Bank Of Canada set a $183.00 price objective on shares of EastGroup Properties and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price on the stock in a research report on Monday, October 27th. BNP Paribas upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target for the company in a research report on Monday, October 27th. Robert W. Baird raised their price objective on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Finally, Truist Financial lifted their price objective on EastGroup Properties from $177.00 to $188.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.80.

Insiders Place Their Bets

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president owned 20,630 shares of the company’s stock, valued at $3,610,250. This represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

EastGroup Properties Company Profile

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.