Palisade Capital Management LP Buys New Shares in EastGroup Properties, Inc. $EGP

Palisade Capital Management LP purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,294 shares of the real estate investment trust’s stock, valued at approximately $16,667,000. Palisade Capital Management LP owned about 0.15% of EastGroup Properties as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its stake in shares of EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 945 shares during the period. Goldman Sachs Group Inc. raised its position 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 worth $33,494,000 after buying an additional 41,538 shares during the period. Jane Street Group LLC boosted its holdings in EastGroup Properties by 309.8% in the first 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 last quarter. Focus Partners Wealth boosted its holdings in EastGroup Properties by 2.2% in the first 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 last quarter. Finally, Cetera Investment Advisers grew its position in EastGroup Properties by 1.9% during the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

EastGroup Properties Trading Up 0.3%

NYSE:EGP opened at $202.91 on Wednesday. The business’s 50-day moving average is $207.56 and its two-hundred day moving average is $199.69. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. EastGroup Properties, Inc. has a 12 month low of $163.10 and a 12 month high of $226.71. The firm has a market capitalization of $10.91 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.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 business earned $2.21 earnings per share. The company’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. Research analysts predict that EastGroup Properties, Inc. will post 9.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays upped their price target on EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Wells Fargo & Company boosted their target price on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Weiss Ratings reissued a “buy (b)” rating on shares of EastGroup Properties in a research report on Tuesday, July 21st. Evercore set a $206.00 price target on shares of EastGroup Properties in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.11.

EastGroup Properties Profile

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.