Channing Capital Management LLC Buys 22,167 Shares of EastGroup Properties, Inc. $EGP

Channing Capital Management LLC lifted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 85.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,180 shares of the real estate investment trust’s stock after purchasing an additional 22,167 shares during the period. Channing Capital Management LLC owned 0.09% of EastGroup Properties worth $8,052,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers increased its position in EastGroup Properties by 16.8% in the first quarter. Cetera Investment Advisers now owns 3,600 shares of the real estate investment trust’s stock worth $634,000 after buying an additional 518 shares during the last quarter. Assetmark Inc. grew its stake in shares of EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 145 shares during the period. LPL Financial LLC increased its holdings in EastGroup Properties by 19.5% in the 1st quarter. LPL Financial LLC now owns 15,890 shares of the real estate investment trust’s stock worth $2,799,000 after acquiring an additional 2,596 shares during the last quarter. Federated Hermes Inc. raised its stake in EastGroup Properties by 10.5% in the 1st quarter. Federated Hermes Inc. now owns 6,568 shares of the real estate investment trust’s stock valued at $1,157,000 after acquiring an additional 625 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in EastGroup Properties by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,161 shares of the real estate investment trust’s stock valued at $557,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EGP shares. Royal Bank Of Canada set a $183.00 target price on shares of EastGroup Properties and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. BNP Paribas Exane raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of EastGroup Properties in a report on Monday. Robert W. Baird increased their target price on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company lifted their price target on EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.93.

EastGroup Properties Stock Performance

NYSE EGP opened at $179.07 on Thursday. The company’s 50 day simple moving average is $175.82 and its two-hundred day simple moving average is $170.23. The stock has a market capitalization of $9.55 billion, a PE ratio of 37.62, a P/E/G ratio of 2.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $188.89.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). The business had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $2.13 EPS. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. Analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president owned 20,630 shares in the company, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.