164,250 Shares in EastGroup Properties, Inc. $EGP Acquired by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 164,250 shares of the real estate investment trust’s stock, valued at approximately $33,266,000. Ceredex Value Advisors LLC owned approximately 0.31% of EastGroup Properties as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EGP. State of Wyoming acquired a new position in shares of EastGroup Properties in the second quarter worth $27,000. Glen Eagle Advisors LLC raised its stake in shares of EastGroup Properties by 96.3% in the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 104 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 85 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 139 shares during the period. Finally, Avalon Trust Co purchased a new position in EastGroup Properties in the first quarter valued at $46,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EGP. Piper Sandler reissued an “overweight” rating on shares of EastGroup Properties in a research note on Thursday, August 13th. JPMorgan Chase & Co. lifted their price objective on EastGroup Properties from $210.00 to $231.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $235.00 price objective on shares of EastGroup Properties in a research report on Monday, July 27th. KeyCorp boosted their price objective on EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada upped their target price on shares of EastGroup Properties from $208.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.11.

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 dated 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 directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. The trade was a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

EastGroup Properties Trading Down 0.4%

Shares of EastGroup Properties stock opened at $201.41 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $207.70 and a 200-day simple moving average of $199.24. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.95 and a beta of 1.02. EastGroup Properties, Inc. has a 12-month low of $162.95 and a 12-month high of $226.71.

EastGroup Properties (NYSE:EGP) last announced 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 net margin of 40.47% and a return on equity of 8.61%. The firm had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same period last year, the business earned $2.21 EPS. EastGroup Properties’s revenue for the quarter 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. On average, equities analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

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.