EP Wealth Advisors LLC Takes $1.25 Million Position in EastGroup Properties, Inc. $EGP

EP Wealth Advisors LLC bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 2nd quarter, Holdings Channel.com reports. The firm bought 6,165 shares of the real estate investment trust’s stock, valued at approximately $1,249,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in shares of EastGroup Properties during the second quarter worth about $27,000. Glen Eagle Advisors LLC grew 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 buying an additional 104 shares in the last quarter. Parallel Advisors LLC grew 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 buying an additional 85 shares in the last quarter. Avalon Trust Co purchased a new stake in shares of EastGroup Properties during the 1st quarter valued at about $46,000. Finally, Clearstead Advisors LLC raised its holdings in shares of EastGroup Properties by 114.9% during 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. 92.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore set a $206.00 price target on EastGroup Properties in a report on Thursday, July 23rd. BTIG Research lifted their price objective on shares of EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Citigroup boosted their target price 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. Piper Sandler restated an “overweight” rating on shares of EastGroup Properties in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $235.00 price objective on shares of EastGroup Properties in a research note on Monday, July 27th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, EastGroup Properties currently has an average rating of “Moderate Buy” and an average price target of $221.11.

Insider Activity at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The shares were 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 approximately $691,263.87. The trade was a 12.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Performance

EGP stock opened at $201.15 on Monday. The stock’s 50 day simple moving average is $207.62 and its 200 day simple moving average is $199.39. EastGroup Properties, Inc. has a 12-month low of $163.10 and a 12-month high of $226.71. The firm has a market cap of $10.82 billion, a P/E ratio of 35.29, a P/E/G ratio of 2.93 and a beta of 1.02. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $193.61 million. During the same quarter in the previous year, the company posted $2.21 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

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.