EastGroup Properties, Inc. $EGP Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 3.9% in the 2nd quarter, Holdings Channel reports. The fund owned 315,185 shares of the real estate investment trust’s stock after purchasing an additional 11,776 shares during the period. Russell Investments Group Ltd.’s holdings in EastGroup Properties were worth $52,674,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake 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 purchasing an additional 108,561 shares during the period. Price T Rowe Associates Inc. MD increased its stake in EastGroup Properties by 35.1% during the 1st 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 buying an additional 342,620 shares during the period. Boston Partners lifted its holdings in EastGroup Properties by 13.8% in the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust’s stock worth $211,761,000 after buying an additional 146,230 shares in the last quarter. Nuveen LLC purchased a new position in EastGroup Properties in the 1st quarter valued at about $190,456,000. Finally, Geode Capital Management LLC grew its stake in shares of EastGroup Properties by 1.7% during the second 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 acquiring an additional 18,116 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 0.3%

Shares of NYSE EGP opened at $181.44 on Friday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average price is $174.78 and its two-hundred day moving average price is $169.98. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $188.89. The stock has a market capitalization of $9.68 billion, a P/E ratio of 38.12, a PEG ratio of 3.67 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $181.88 million. During the same quarter in the previous year, the business posted $2.13 EPS. EastGroup Properties’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, analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EastGroup Properties 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 sale, the executive vice president owned 20,630 shares in the company, valued at $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EGP has been the topic of several recent analyst reports. Truist Financial boosted their price target on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. BNP Paribas upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective on the stock in a report on Monday, October 27th. BNP Paribas Exane raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price on the stock in a research report on Monday, October 27th. Morgan Stanley raised their price target on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. Finally, Wells Fargo & Company lifted their price target on shares of EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and an average 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.