D L Carlson Investment Group Inc. acquired a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,340 shares of the real estate investment trust's stock, valued at approximately $1,487,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust's stock worth $167,000 after buying an additional 945 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of EastGroup Properties by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust's stock valued at $33,494,000 after acquiring an additional 41,538 shares during the last quarter. Jane Street Group LLC raised its position in shares of EastGroup Properties by 309.8% in the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust's stock valued at $2,797,000 after acquiring an additional 12,003 shares during the period. Focus Partners Wealth raised its position in shares of EastGroup Properties by 2.2% in the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock valued at $1,075,000 after acquiring an additional 130 shares during the period. Finally, Cetera Investment Advisers boosted its stake in EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust's stock worth $613,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 92.14% of the company's stock.
EastGroup Properties Stock Performance
Shares of EGP opened at $201.41 on Friday. The firm has a market cap of $10.83 billion, a P/E ratio of 35.34, a PEG ratio of 2.95 and a beta of 1.02. EastGroup Properties, Inc. has a twelve month low of $162.95 and a twelve month high of $226.71. 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's 50 day moving average price is $207.70 and its two-hundred day moving average price is $199.24.
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 (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million during the quarter, compared to the consensus estimate of $193.61 million. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm'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. On average, analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have commented on EGP. Morgan Stanley upped their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 27th. Wells Fargo & Company lifted their price target on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Robert W. Baird set a $221.00 price objective on shares of EastGroup Properties in a research report on Friday, July 31st. Barclays raised their price objective on EastGroup Properties from $210.00 to $228.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Finally, Evercore set a $206.00 target price on EastGroup Properties in a report on Thursday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $221.11.
Get Our Latest Stock Report on EastGroup Properties
Insider Transactions at EastGroup Properties
In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company's stock.
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.
See Also
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