Hsbc Holdings PLC Increases Holdings in EastGroup Properties, Inc. $EGP

Hsbc Holdings PLC boosted its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 14.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,351 shares of the real estate investment trust’s stock after acquiring an additional 5,914 shares during the period. Hsbc Holdings PLC owned 0.09% of EastGroup Properties worth $7,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EGP. Nuveen LLC purchased a new position in shares of EastGroup Properties during the 1st quarter worth approximately $190,456,000. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of EastGroup Properties by 1,058.6% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock worth $109,443,000 after acquiring an additional 567,678 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of EastGroup Properties by 35.1% in 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 acquiring an additional 342,620 shares in the last quarter. Millennium Management LLC boosted its stake in shares of EastGroup Properties by 176.4% during the first quarter. Millennium Management LLC now owns 493,144 shares of the real estate investment trust’s stock valued at $86,867,000 after acquiring an additional 314,738 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in EastGroup Properties by 46.1% in the 1st quarter. Deutsche Bank AG now owns 705,834 shares of the real estate investment trust’s stock valued at $124,333,000 after purchasing an additional 222,675 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $180.24 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $188.89. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.70 and a beta of 1.11. The business has a 50-day moving average of $176.12 and a 200-day moving average of $170.30.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results 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 return on equity of 7.28% and a net margin of 35.58%.The company had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same period last year, the firm posted $2.13 earnings per share. The business’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 and its Q4 2025 guidance at 2.300-2.340 EPS. On average, equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EGP has been the subject of a number of analyst reports. Evercore ISI cut their price objective on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Truist Financial upped their target price on EastGroup Properties from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. KeyCorp upgraded shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 target price for the company in a report on Thursday. Industrial Alliance Securities set a $200.00 price target on shares of EastGroup Properties in a research note on Monday, October 27th. Finally, BNP Paribas raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.89.

Insider Transactions at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

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.