Emerald Investment Advisers LLC acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,118 shares of the real estate investment trust’s stock, valued at approximately $8,530,000. Emerald Investment Advisers LLC owned approximately 0.08% of EastGroup Properties at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in EGP. Renaissance Group LLC grew its stake in EastGroup Properties by 3.9% during the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 54 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in EastGroup Properties by 4.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 60 shares during the period. Cetera Investment Advisers lifted its stake in EastGroup Properties by 1.9% in the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 68 shares during the last quarter. Larson Financial Group LLC lifted its stake in EastGroup Properties by 35.6% in the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 69 shares during the last quarter. Finally, Swiss Life Asset Management Ltd boosted its holdings in shares of EastGroup Properties by 3.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.
Insider Buying and Selling
In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.
EastGroup Properties Trading Up 0.0%
EastGroup Properties (NYSE:EGP – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business 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 quarterly revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Equities analysts anticipate that EastGroup Properties, Inc. will post 9.6 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have recently commented on EGP. JPMorgan Chase & Co. lifted their target price on shares of EastGroup Properties from $210.00 to $231.00 and gave the company a “neutral” rating in a report on Friday, July 24th. KeyCorp increased their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Royal Bank Of Canada raised their price objective on shares of EastGroup Properties from $208.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Truist Financial lifted their price objective on shares of EastGroup Properties from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley upped their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.11.
Get Our Latest Stock Report on EGP
EastGroup Properties Company Profile
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.
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