Deutsche Bank AG Buys Shares of 566,705 EastGroup Properties, Inc. $EGP

Deutsche Bank AG bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 566,705 shares of the real estate investment trust’s stock, valued at approximately $114,775,000.

Other institutional investors also recently modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC grew its position in EastGroup Properties by 5.1% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock worth $126,677,000 after acquiring an additional 34,515 shares during the last quarter. Corient Private Wealth LLC raised its position in EastGroup Properties by 22.1% in the fourth quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock valued at $5,260,000 after purchasing an additional 5,341 shares during the last quarter. Heartland Advisors Inc. raised its position in EastGroup Properties by 13.7% in the fourth quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust’s stock valued at $7,607,000 after purchasing an additional 5,160 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of EastGroup Properties by 22.7% during the first quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock valued at $11,493,000 after purchasing an additional 11,504 shares in the last quarter. Finally, SummitTX Capital L.P. boosted its stake in shares of EastGroup Properties by 28.3% during the first quarter. SummitTX Capital L.P. now owns 21,577 shares of the real estate investment trust’s stock valued at $3,994,000 after purchasing an additional 4,758 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Truist Financial raised their price objective on shares of EastGroup Properties from $215.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Morgan Stanley boosted their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Finally, KeyCorp upped their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $221.11.

Insider Buying and Selling

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction that occurred 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 sale, the director owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

EastGroup Properties Trading Up 0.0%

NYSE EGP opened at $202.18 on Thursday. The business’s 50-day moving average price is $207.73 and its two-hundred day moving average price is $199.10. EastGroup Properties, Inc. has a 12 month low of $162.95 and a 12 month high of $226.71. The firm has a market capitalization of $10.87 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating 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 company 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 firm posted $2.21 earnings per share. The business’s quarterly 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. On average, analysts expect that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

EastGroup Properties 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.