Ceredex Value Advisors LLC Invests $33.27 Million in EastGroup Properties, Inc. $EGP

Ceredex Value Advisors LLC bought a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, Holdings Channel reports. The institutional investor bought 164,250 shares of the real estate investment trust’s stock, valued at approximately $33,266,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its stake in EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares during the period. Goldman Sachs Group Inc. increased its stake in EastGroup Properties by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after purchasing an additional 41,538 shares during the period. Jane Street Group LLC increased its stake in EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after purchasing an additional 12,003 shares during the period. Focus Partners Wealth raised its holdings in shares of EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after buying an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of 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. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EGP shares. Robert W. Baird set a $221.00 price target on EastGroup Properties in a report on Friday, July 31st. Truist Financial upped their price objective on EastGroup Properties from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. KeyCorp increased 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. Citigroup lifted their target price on EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada lifted their target price on EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus target price of $221.11.

Insiders Place Their Bets

In other news, Director David Michael Fields sold 504 shares of the business’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 transaction, the director directly owned 3,531 shares of the company’s stock, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Performance

NYSE:EGP 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 firm has a 50-day moving average price of $207.70 and a two-hundred day moving average price of $199.24. EastGroup Properties, Inc. has a twelve month low of $162.95 and a twelve month high of $226.71. The company has a market capitalization of $10.83 billion, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (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 firm had revenue of $193.33 million during the quarter, compared to the consensus estimate of $193.61 million. During the same period in the previous year, the firm posted $2.21 EPS. 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. As a group, research analysts expect that EastGroup Properties, Inc. will post 9.6 earnings per share for the current fiscal year.

About EastGroup Properties

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.