Adelante Capital Management LLC Takes $8.90 Million Position in EastGroup Properties, Inc. $EGP

Adelante Capital Management LLC acquired a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,962 shares of the real estate investment trust's stock, valued at approximately $8,904,000. Adelante Capital Management LLC owned about 0.08% of EastGroup Properties as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EGP. BlackRock Inc. bought a new stake in shares of EastGroup Properties during the 2nd quarter valued at $1,553,186,000. Cohen & Steers Inc. lifted its stake in EastGroup Properties by 7.0% in the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust's stock valued at $545,746,000 after acquiring an additional 200,617 shares in the last quarter. State Street Corp lifted its position in shares of EastGroup Properties by 0.6% in the third quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust's stock worth $458,320,000 after purchasing an additional 15,918 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of EastGroup Properties by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust's stock worth $431,028,000 after buying an additional 24,910 shares during the last quarter. Finally, Norges Bank acquired a new position in EastGroup Properties during the fourth quarter valued at approximately $281,054,000. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Trading Down 0.9%

Shares of EastGroup Properties stock opened at $200.93 on Thursday. 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 firm has a 50-day moving average of $207.62 and a 200-day moving average of $199.78. EastGroup Properties, Inc. has a 52-week low of $163.10 and a 52-week high of $226.71. The stock has a market cap of $10.80 billion, a PE ratio of 35.25, a PEG ratio of 2.95 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. The business had revenue of $193.33 million during the quarter, compared to analysts' expectations of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The business's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, sell-side analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

Insider Activity at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the business's 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 completion of the sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EGP. Citigroup upped 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. Royal Bank Of Canada boosted their target price on EastGroup Properties from $208.00 to $220.00 and gave the stock a "sector perform" rating in a report on Monday, August 3rd. Raymond James Financial began coverage on EastGroup Properties in a research note on Wednesday, June 17th. They issued an "outperform" rating and a $241.00 price target on the stock. Evercore set a $206.00 price target on EastGroup Properties in a report on Thursday, July 23rd. Finally, Wells Fargo & Company upped their price objective on shares of 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 assigned a Hold rating to the company's stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of "Moderate Buy" and an average target price of $221.11.

EastGroup Properties Company 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.

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