Emerald Investment Advisers LLC Makes New $8.53 Million Investment in EastGroup Properties, Inc. $EGP

Emerald Investment Advisers LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the second quarter, HoldingsChannel reports. The firm bought 42,118 shares of the real estate investment trust’s stock, valued at approximately $8,530,000.

Several other hedge funds have also modified their holdings of EGP. State of Wyoming purchased a new stake in shares of EastGroup Properties in the second quarter valued at approximately $27,000. Glen Eagle Advisors LLC raised its position in EastGroup Properties by 96.3% in the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 104 shares in the last quarter. Parallel Advisors LLC raised its position in EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 85 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 139 shares during the period. Finally, Avalon Trust Co acquired a new stake in EastGroup Properties in the first quarter valued at $46,000. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EGP. KeyCorp boosted their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their price objective on shares of EastGroup Properties from $210.00 to $231.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Evercore set a $206.00 price objective on shares of EastGroup Properties in a report on Thursday, July 23rd. Royal Bank Of Canada boosted their price objective on shares of EastGroup Properties from $208.00 to $220.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Finally, Robert W. Baird set a $221.00 target price on shares of EastGroup Properties in a research report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $221.11.

EastGroup Properties Stock Up 0.0%

EGP opened at $201.15 on Friday. The business’s fifty day moving average is $207.62 and its two-hundred day moving average is $199.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.93 and a beta of 1.02. EastGroup Properties, Inc. has a one year low of $163.10 and a one year high of $226.71.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The company had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same quarter in the prior year, the company earned $2.21 earnings per share. EastGroup Properties’s revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Analysts anticipate that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.