EastGroup Properties, Inc. $EGP Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 315,185 shares of the real estate investment trust’s stock after buying an additional 11,776 shares during the period. Russell Investments Group Ltd. owned 0.59% of EastGroup Properties worth $52,674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. increased its position in EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 145 shares in the last quarter. Hilltop National Bank acquired a new stake in shares of EastGroup Properties during the 2nd quarter worth about $111,000. First Eagle Investment Management LLC boosted its stake in shares of EastGroup Properties by 51.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 284 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 945 shares in the last quarter. Finally, Choreo LLC acquired a new position in shares of EastGroup Properties in the first quarter valued at approximately $203,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Trading Up 0.3%

EGP stock opened at $181.44 on Friday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 38.12, a PEG ratio of 3.67 and a beta of 1.04. The business has a fifty day simple moving average of $174.78 and a 200-day simple moving average of $169.98. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $188.89.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). The firm had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. EastGroup Properties’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $2.13 EPS. 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, equities research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

Insider Activity

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 20,630 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Evercore ISI decreased 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. 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 report on Tuesday, November 4th. BNP Paribas raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a research report on Monday, October 27th. Wells Fargo & Company increased their target price on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of EastGroup Properties in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.80.

About EastGroup Properties

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.