EastGroup Properties, Inc. $EGP Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. raised its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,229 shares of the real estate investment trust’s stock after buying an additional 1,322 shares during the period. Prudential Financial Inc.’s holdings in EastGroup Properties were worth $12,586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of EastGroup Properties by 1.5% in the second quarter. Vanguard Group Inc. now owns 7,306,840 shares of the real estate investment trust’s stock valued at $1,221,119,000 after acquiring an additional 108,561 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 period. Boston Partners boosted its stake in EastGroup Properties by 13.8% during the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust’s stock valued at $211,761,000 after purchasing an additional 146,230 shares in the last quarter. Nuveen LLC acquired a new position in shares of EastGroup Properties during the 1st quarter valued at $190,456,000. Finally, Geode Capital Management LLC increased its position in shares of EastGroup Properties by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,062,770 shares of the real estate investment trust’s stock valued at $177,636,000 after purchasing an additional 18,116 shares during the period. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Trading Up 0.3%

Shares of EGP opened at $181.44 on Friday. The business’s 50-day moving average price is $174.78 and its 200 day moving average price is $169.98. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $9.68 billion, a P/E ratio of 38.12, a P/E/G ratio of 3.67 and a beta of 1.04. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $188.89.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS 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 firm had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. During the same period in the prior year, the company posted $2.13 earnings per share. EastGroup Properties’s quarterly 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. Analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

Insider Activity at EastGroup Properties

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird upped their price objective on EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Wells Fargo & Company upped their price target on shares of EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Morgan Stanley raised their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 9th. Truist Financial boosted their target price on shares of EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Cantor Fitzgerald increased their target price on shares of EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.80.

About EastGroup Properties

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.