EastGroup Properties, Inc. $EGP Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in EastGroup Properties by 8.9%, selling 126,173 shares during the first quarter, leaving them with 1,287,543 shares valued at approximately $226.8 million.
• Several institutional investors have increased their positions in EastGroup Properties, with one firm, Assetmark Inc., boosting its stake by 1,035.7%.
• Wall Street analysts have mixed opinions on EastGroup Properties, with price targets ranging from $177.00 to $190.00, and an average rating of "Moderate Buy".

T. Rowe Price Investment Management Inc. trimmed its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,287,543 shares of the real estate investment trust's stock after selling 126,173 shares during the period. T. Rowe Price Investment Management Inc. owned 2.45% of EastGroup Properties worth $226,801,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Citizens National Bank Trust Department acquired a new position in shares of EastGroup Properties during the 1st quarter worth about $26,000. Assetmark Inc. boosted its holdings in EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after buying an additional 145 shares during the last quarter. Mather Group LLC. increased its stake in EastGroup Properties by 74.2% during the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after buying an additional 155 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of EastGroup Properties by 387.4% during the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after acquiring an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of EastGroup Properties by 31.9% during the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

EGP has been the subject of several research reports. Barclays dropped their price target on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Robert W. Baird lowered 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 report on Wednesday, May 7th. Royal Bank Of Canada cut their price objective on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. Truist Financial decreased their target price 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. Finally, Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus target price of $189.31.

EastGroup Properties Stock Performance

NYSE:EGP opened at $164.8130 on Thursday. The company's 50-day moving average is $166.47 and its two-hundred day moving average is $169.30. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 3.39 and a beta of 0.98.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $175.80 million. During the same quarter last year, the firm earned $2.05 EPS. The business's revenue was up 11.4% compared to the same quarter last year. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Company 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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