Swiss National Bank Acquires 3,900 Shares of EastGroup Properties, Inc. $EGP

Swiss National Bank boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 99,787 shares of the real estate investment trust’s stock after purchasing an additional 3,900 shares during the quarter. Swiss National Bank’s holdings in EastGroup Properties were worth $16,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of EastGroup Properties during the 1st quarter worth about $190,456,000. Cbre Investment Management Listed Real Assets LLC lifted its position in EastGroup Properties by 1,058.6% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock worth $109,443,000 after acquiring an additional 567,678 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in EastGroup Properties by 35.1% during 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 acquiring an additional 342,620 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of EastGroup Properties by 176.4% during the first quarter. Millennium Management LLC now owns 493,144 shares of the real estate investment trust’s stock worth $86,867,000 after acquiring an additional 314,738 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of EastGroup Properties by 46.1% during the first quarter. Deutsche Bank AG now owns 705,834 shares of the real estate investment trust’s stock worth $124,333,000 after acquiring an additional 222,675 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EGP shares. Royal Bank Of Canada set a $183.00 target price on EastGroup Properties and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. Evercore ISI decreased their price objective on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a report on Monday, October 6th. Wells Fargo & Company lifted their target price on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. BNP Paribas Exane raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research report on Monday, October 27th. Finally, Industrial Alliance Securities set a $200.00 price target on shares of EastGroup Properties in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.80.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $181.44 on Thursday. The firm has a 50 day moving average of $174.52 and a 200-day moving average of $169.90. The stock has a market capitalization of $9.68 billion, a PE ratio of 38.12, a PEG ratio of 3.67 and a beta of 1.04. 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.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). The firm had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. 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, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

Insider Activity

In other news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value 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 trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.