Ceredex Value Advisors LLC Increases Holdings in EastGroup Properties, Inc. $EGP

Ceredex Value Advisors LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 65.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,550 shares of the real estate investment trust’s stock after buying an additional 105,705 shares during the quarter. EastGroup Properties makes up approximately 1.0% of Ceredex Value Advisors LLC’s portfolio, making the stock its 29th biggest position. Ceredex Value Advisors LLC’s holdings in EastGroup Properties were worth $44,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of EGP. Vanguard Group Inc. lifted its holdings in shares of EastGroup Properties by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,306,840 shares of the real estate investment trust’s stock worth $1,221,119,000 after acquiring an additional 108,561 shares during the last quarter. Norges Bank purchased a new position in EastGroup Properties in the 2nd quarter worth $252,405,000. Price T Rowe Associates Inc. MD lifted its stake in EastGroup Properties by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock worth $232,184,000 after purchasing an additional 342,620 shares during the last quarter. Boston Partners boosted its position in EastGroup Properties by 13.8% during the first quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust’s stock valued at $211,761,000 after buying an additional 146,230 shares during the period. Finally, Nuveen LLC purchased a new stake in EastGroup Properties during the first quarter valued at about $190,456,000. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Up 0.3%

Shares of EastGroup Properties stock opened at $181.44 on Friday. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $188.89. The company has a market cap of $9.68 billion, a P/E ratio of 38.12, a PEG ratio of 3.67 and a beta of 1.04. The company’s fifty day simple moving average is $174.78 and its two-hundred day simple moving average is $169.98.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company had revenue of $182.14 million for the quarter, compared to the consensus estimate of $181.88 million. During the same period in the previous year, the firm posted $2.13 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. Research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

Insiders Place Their Bets

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president owned 20,630 shares in the company, valued at approximately $3,610,250. This represents a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EGP shares. Morgan Stanley boosted their target price on EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Royal Bank Of Canada set a $183.00 price target on EastGroup Properties and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company increased their price objective on EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. BNP Paribas 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. Finally, Truist Financial lifted their target price on shares of EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.80.

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.