Channing Capital Management LLC Invests $4.58 Million in EastGroup Properties, Inc. $EGP

Key Points

• Channing Capital Management LLC invested approximately $4.58 million in EastGroup Properties, acquiring 26,013 shares of the real estate investment trust during the first quarter.
• EastGroup Properties recently reported earnings of $2.21 EPS for the quarter, surpassing analysts' estimates and showcasing a revenue increase of 11.4% year-over-year.
• Institutional investors collectively own 92.14% of EastGroup Properties' stock, with several large firms boosting their stakes significantly in the recent quarter.

Channing Capital Management LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 26,013 shares of the real estate investment trust's stock, valued at approximately $4,582,000.

Several other large investors have also added to or reduced their stakes in EGP. Nuveen LLC bought a new stake in EastGroup Properties in the first quarter valued at $190,456,000. Principal Financial Group Inc. boosted its holdings in EastGroup Properties by 234.7% in the first quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust's stock valued at $215,267,000 after acquiring an additional 856,971 shares in the last quarter. Northern Trust Corp boosted its holdings in EastGroup Properties by 91.3% in the fourth quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust's stock valued at $130,189,000 after acquiring an additional 387,134 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in EastGroup Properties in the first quarter valued at $52,065,000. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Trading Down 1.1%

EastGroup Properties stock opened at $164.8130 on Thursday. The firm has a 50 day moving average of $166.47 and a 200 day moving average of $169.30. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 3.39 and a beta of 0.98. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.21. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business had revenue of $177.29 million during the quarter, compared to analyst estimates of $175.80 million. During the same period last year, the firm posted $2.05 EPS. The company's revenue was up 11.4% on a year-over-year basis. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EGP has been the topic of several recent analyst reports. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Royal Bank Of Canada dropped their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. Robert W. Baird dropped their price target on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Truist Financial dropped their price target on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, EastGroup Properties has an average rating of "Moderate Buy" and an average price target of $189.31.

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.

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