EP Wealth Advisors LLC Makes New $1.25 Million Investment in EastGroup Properties, Inc. $EGP

EP Wealth Advisors LLC purchased 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 Securities and Exchange Commission (SEC). The firm purchased 6,165 shares of the real estate investment trust's stock, valued at approximately $1,249,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ieq Capital LLC acquired a new position in EastGroup Properties during the second quarter worth about $413,000. Callan Family Office LLC acquired a new stake in shares of EastGroup Properties in the second quarter valued at approximately $433,000. Heartland Advisors Inc. acquired a new stake in shares of EastGroup Properties in the second quarter valued at approximately $8,706,000. OneAscent Investment Solutions LLC purchased a new position in shares of EastGroup Properties during the 2nd quarter worth approximately $454,000. Finally, OneAscent Wealth Management LLC purchased a new position in shares of EastGroup Properties during the 2nd quarter worth approximately $263,000. Institutional investors and hedge funds own 92.14% of the company's stock.

Wall Street Analyst Weigh In

EGP has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of EastGroup Properties from $210.00 to $231.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Raymond James Financial began coverage on shares of EastGroup Properties in a research report on Wednesday, June 17th. They issued an "outperform" rating and a $241.00 price objective for the company. Morgan Stanley upped their price objective 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. Cantor Fitzgerald restated an "overweight" rating and set a $235.00 target price on shares of EastGroup Properties in a research report on Monday, July 27th. Finally, Truist Financial lifted their target price on shares of EastGroup Properties from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, EastGroup Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.11.

Insider Buying and Selling at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties 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 owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $201.15 on Monday. EastGroup Properties, Inc. has a 1 year low of $163.10 and a 1 year 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 has a 50 day moving average price of $207.62 and a 200 day moving average price of $199.39. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.93 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $193.61 million. During the same quarter last year, the business earned $2.21 EPS. EastGroup Properties's revenue for the quarter was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Sell-side analysts predict that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

About EastGroup Properties

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source