EastGroup Properties, Inc. $EGP Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas cut its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,900 shares of the real estate investment trust’s stock after selling 7,000 shares during the period. Employees Retirement System of Texas owned approximately 0.06% of EastGroup Properties worth $5,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Choreo LLC boosted its position in shares of EastGroup Properties by 35.2% during the 2nd quarter. Choreo LLC now owns 1,543 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 402 shares during the period. Russell Investments Group Ltd. boosted its position in shares of EastGroup Properties by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 315,185 shares of the real estate investment trust’s stock worth $52,674,000 after buying an additional 11,776 shares during the period. Inceptionr LLC acquired a new stake in shares of EastGroup Properties in the second quarter valued at $1,244,000. Advisors Asset Management Inc. raised its holdings in shares of EastGroup Properties by 88.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 9,930 shares of the real estate investment trust’s stock valued at $1,660,000 after buying an additional 4,668 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of EastGroup Properties by 34.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock valued at $2,289,000 after buying an additional 3,480 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president owned 20,630 shares in the company, valued at approximately $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $181.44 on Thursday. The business has a 50-day simple moving average of $174.52 and a 200-day simple moving average of $169.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $188.89. The company has a market cap of $9.68 billion, a PE ratio of 38.12, a P/E/G ratio of 3.67 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same quarter in the prior year, the firm earned $2.13 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. On average, equities research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI lowered their target price on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a report on Monday, October 6th. BNP Paribas raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target on the stock in a research report on Monday, October 27th. Truist Financial raised their price objective on shares of EastGroup Properties from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Robert W. Baird lifted their price objective on shares of EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, BNP Paribas Exane upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price on the stock in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.80.

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.