7,668,918 Shares in EastGroup Properties, Inc. $EGP Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 7.67 million EastGroup Properties shares worth approximately $1.55 billion, giving it a 14.26% stake. Institutional investors collectively own 92.14% of the REIT.
• EastGroup reported quarterly EPS of $1.40, beating estimates of $1.31, while revenue rose 9% year over year to $193.33 million. The company issued full-year 2026 EPS guidance of $9.52–$9.66.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $221.11 target price; recent targets range as high as $250.

BlackRock Inc. acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,668,918 shares of the real estate investment trust's stock, valued at approximately $1,553,186,000. BlackRock Inc. owned approximately 14.26% of EastGroup Properties at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EGP. Cbre Investment Management Listed Real Assets LLC boosted its holdings in EastGroup Properties by 5.1% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust's stock valued at $126,677,000 after purchasing an additional 34,515 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of EastGroup Properties by 22.1% during the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust's stock valued at $5,260,000 after buying an additional 5,341 shares during the period. California State Teachers Retirement System lifted its holdings in EastGroup Properties by 22.7% in the first quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust's stock valued at $11,493,000 after acquiring an additional 11,504 shares during the last quarter. Heartland Advisors Inc. grew its position in EastGroup Properties by 13.7% in the fourth quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust's stock worth $7,607,000 after acquiring an additional 5,160 shares during the period. Finally, SummitTX Capital L.P. raised its position in EastGroup Properties by 28.3% in the first quarter. SummitTX Capital L.P. now owns 21,577 shares of the real estate investment trust's stock valued at $3,994,000 after purchasing an additional 4,758 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

Insider Buying and Selling

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director owned 3,531 shares of the company's stock, valued at approximately $691,263.87. The trade was a 12.49% decrease in their position. The sale 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.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $201.41 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.95 and a beta of 1.02. EastGroup Properties, Inc. has a 12 month low of $162.95 and a 12 month high of $226.71. The firm's fifty day simple moving average is $207.70 and its 200-day simple moving average is $199.24.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) 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 firm had revenue of $193.33 million for the quarter, compared to analysts' expectations of $193.61 million. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, equities analysts forecast that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EGP has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of EastGroup Properties in a research report on Tuesday, July 21st. Raymond James Financial began coverage on EastGroup Properties in a research report on Wednesday, June 17th. They issued an "outperform" rating and a $241.00 target price on the stock. Barclays raised their price target on EastGroup Properties from $210.00 to $228.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Citigroup lifted their price objective on EastGroup Properties from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company boosted their price objective on EastGroup Properties from $213.00 to $221.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.11.

About EastGroup Properties

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.

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