B. Metzler seel. Sohn & Co. AG acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 18,531 shares of the real estate investment trust's stock, valued at approximately $3,753,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Wyoming acquired a new stake in shares of EastGroup Properties in the 2nd quarter valued at $27,000. Glen Eagle Advisors LLC lifted its holdings in EastGroup Properties by 96.3% during the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 104 shares during the last quarter. Parallel Advisors LLC lifted its holdings in EastGroup Properties by 53.5% during the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 85 shares during the last quarter. Clearstead Advisors LLC boosted its position 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 buying an additional 139 shares in the last quarter. Finally, Avalon Trust Co acquired a new position in EastGroup Properties in the first quarter valued at about $46,000. 92.14% of the stock is owned by institutional investors.
EastGroup Properties Trading Up 0.0%
Shares of EGP opened at $201.15 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 12-month low of $163.10 and a 12-month high of $226.71. The firm has a market capitalization of $10.82 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.93 and a beta of 1.02. The stock's fifty day simple moving average is $207.62 and its 200-day simple moving average is $199.26.
EastGroup Properties (NYSE:EGP - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.09. The company had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company's revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, research analysts predict that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on EGP shares. JPMorgan Chase & Co. lifted their target price 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. Piper Sandler restated an "overweight" rating on shares of EastGroup Properties in a research report on Thursday, August 13th. Barclays raised their price target on EastGroup Properties from $210.00 to $228.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Royal Bank Of Canada lifted their price objective on EastGroup Properties from $208.00 to $220.00 and gave the company a "sector perform" rating in a research report on Monday, August 3rd. Finally, Robert W. Baird set a $221.00 price objective on EastGroup Properties in a research note on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.11.
Check Out Our Latest Analysis on EGP
Insider Buying and Selling at EastGroup Properties
In other news, Director David Michael Fields sold 504 shares of the firm's stock in a transaction 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 transaction, the director directly owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.
About EastGroup Properties
(
Free Report)
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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