Quantbot Technologies LP Makes New Investment in EastGroup Properties, Inc. $EGP

Quantbot Technologies LP purchased a new position in EastGroup Properties, Inc. (NYSE:EGP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,851 shares of the real estate investment trust’s stock, valued at approximately $2,400,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in EastGroup Properties by 18,900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in 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 in the last quarter. Jane Street Group LLC increased its stake in shares of 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 worth $2,797,000 after acquiring an additional 12,003 shares during the last quarter. Focus Partners Wealth boosted its position in EastGroup Properties by 2.2% during 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 purchasing an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EGP. Barclays raised their price objective on shares of EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of EastGroup Properties in a research report on Tuesday, July 21st. Piper Sandler restated an “overweight” rating on shares of EastGroup Properties in a report on Thursday, August 13th. Raymond James Financial began coverage on shares of EastGroup Properties in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price objective for the company. Finally, BTIG Research upped their price objective on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.11.

EastGroup Properties Stock Up 0.1%

Shares of EGP stock opened at $201.15 on Monday. The stock’s 50 day simple moving average is $207.62 and its 200 day simple moving average is $199.39. EastGroup Properties, Inc. has a twelve month low of $163.10 and a twelve month high of $226.71. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.93 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm had revenue of $193.33 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, research analysts predict that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

About EastGroup Properties

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.