Sanctuary Advisors LLC Takes $1.45 Million Position in EastGroup Properties, Inc. $EGP

Sanctuary Advisors LLC purchased a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 7,157 shares of the real estate investment trust’s stock, valued at approximately $1,449,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in EastGroup Properties by 18,900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 945 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after acquiring an additional 41,538 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of 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 worth $2,797,000 after acquiring an additional 12,003 shares in the last quarter. Focus Partners Wealth lifted its stake 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 worth $1,075,000 after acquiring an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings 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 purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.9%

Shares of NYSE EGP opened at $200.93 on Thursday. The stock’s 50 day moving average price is $207.62 and its two-hundred day moving average price is $199.78. EastGroup Properties, Inc. has a 52-week low of $163.10 and a 52-week high of $226.71. The stock has a market capitalization of $10.80 billion, a P/E ratio of 35.25, a PEG ratio of 2.95 and a beta of 1.02. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.EastGroup Properties’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, analysts anticipate that EastGroup Properties, Inc. will post 9.6 earnings per share for the current fiscal year.

Insider Transactions at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director directly owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EGP shares. KeyCorp raised their price objective on EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Piper Sandler reiterated an “overweight” rating on shares of EastGroup Properties in a research note on Thursday, August 13th. JPMorgan Chase & Co. raised their price target 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. BTIG Research lifted their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company increased their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and a consensus target price of $221.11.

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.