The Manufacturers Life Insurance Company Buys New Position in EastGroup Properties, Inc. $EGP

Posted by Stanley Muller on Aug 27th, 2026

The Manufacturers Life Insurance Company bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 273,694 shares of the real estate investment trust’s stock, valued at approximately $55,431,000. The Manufacturers Life Insurance Company owned about 0.51% of EastGroup Properties at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGP. BlackRock Inc. bought a new position in shares of EastGroup Properties in the 2nd quarter worth $1,553,186,000. Cohen & Steers Inc. lifted its holdings in shares of EastGroup Properties by 7.0% during the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock worth $545,746,000 after acquiring an additional 200,617 shares during the last quarter. State Street Corp grew its position in EastGroup Properties by 0.6% in the third quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after acquiring an additional 15,918 shares in the last quarter. Principal Financial Group Inc. grew its position in EastGroup Properties by 1.1% in the first quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust’s stock worth $431,028,000 after acquiring an additional 24,910 shares in the last quarter. Finally, Norges Bank bought a new position in EastGroup Properties in the fourth quarter valued at $281,054,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Down 0.9%

Shares of NYSE:EGP opened at $200.93 on Thursday. The stock’s 50-day moving average is $207.62 and its 200 day moving average is $199.78. The company has a market cap of $10.80 billion, a PE ratio of 35.25, a P/E/G ratio of 2.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. EastGroup Properties, Inc. has a 1 year low of $163.10 and a 1 year high of $226.71.

EastGroup Properties (NYSE:EGP – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. The business had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Sell-side analysts anticipate that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

Insider Activity at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the sale, the director owned 3,531 shares of the company’s stock, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EGP shares. JPMorgan Chase & Co. raised their price target on EastGroup Properties from $210.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Barclays increased their price objective on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Wells Fargo & Company raised their price objective on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Morgan Stanley boosted their target price on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Finally, Truist Financial upped their target price on EastGroup Properties from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average target price of $221.11.

Get Our Latest Stock Analysis on EastGroup Properties

About EastGroup Properties

(Free Report)

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.