Vanguard Group Inc. Purchases 108,561 Shares of EastGroup Properties, Inc. $EGP

Vanguard Group Inc. lifted its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,306,840 shares of the real estate investment trust’s stock after buying an additional 108,561 shares during the period. Vanguard Group Inc. owned approximately 13.70% of EastGroup Properties worth $1,221,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EGP. Covestor Ltd grew its holdings in EastGroup Properties by 5.6% in the first quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 62 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 68 shares in the last quarter. UMB Bank n.a. grew its stake in EastGroup Properties by 4.0% during the 2nd quarter. UMB Bank n.a. now owns 2,029 shares of the real estate investment trust’s stock worth $339,000 after buying an additional 78 shares during the last quarter. UniSuper Management Pty Ltd increased its position in EastGroup Properties by 0.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 13,900 shares of the real estate investment trust’s stock valued at $2,448,000 after buying an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. increased its position in EastGroup Properties by 2.5% during the 2nd quarter. Securian Asset Management Inc. now owns 4,045 shares of the real estate investment trust’s stock valued at $676,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EGP shares. Industrial Alliance Securities set a $200.00 price target on EastGroup Properties in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of EastGroup Properties in a research note on Monday, November 17th. Evercore ISI dropped their target price on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a research report on Monday, October 6th. Truist Financial raised their price target on shares of EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Morgan Stanley lifted their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $190.80.

Insider Buying and Selling at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value 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. The trade was a 8.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $179.74 on Friday. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $188.89. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. The company has a market cap of $9.59 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 3.67 and a beta of 1.04. The company’s 50 day moving average is $173.66 and its 200 day moving average is $169.61.

EastGroup Properties (NYSE:EGP) last released 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 period last year, the company earned $2.13 earnings per share. The firm’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, sell-side analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties 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.