Paralel Advisors LLC Acquires New Shares in EastGroup Properties, Inc. $EGP

Paralel Advisors LLC acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,395 shares of the real estate investment trust’s stock, valued at approximately $1,498,000.

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 2nd quarter valued at $27,000. Glen Eagle Advisors LLC increased its position in shares of EastGroup Properties by 96.3% during the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 104 shares during the last quarter. Parallel Advisors LLC raised its holdings in EastGroup Properties by 53.5% in the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 85 shares during the period. Avalon Trust Co purchased a new stake in EastGroup Properties in the 1st quarter valued at about $46,000. Finally, Clearstead Advisors LLC raised its holdings in EastGroup Properties by 114.9% in the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $201.41 on Friday. EastGroup Properties, Inc. has a one year low of $162.95 and a one year high of $226.71. The company has a market cap of $10.83 billion, a PE ratio of 35.34, 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 quick ratio of 0.16 and a current ratio of 0.16. The business has a 50-day simple moving average of $207.70 and a 200-day simple moving average of $199.24.

EastGroup Properties (NYSE:EGP) last issued its 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. The firm had revenue of $193.33 million for the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, equities research analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank Of Canada increased 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. JPMorgan Chase & Co. upped their price objective on shares of EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Citigroup increased their price objective on shares of EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. BTIG Research lifted their target price on shares of EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Raymond James Financial initiated coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.11.

Insider Activity at EastGroup Properties

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 value of $98,668.08. Following the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.