Mitsubishi UFJ Asset Management Co. Ltd. Makes New $9.34 Million Investment in EastGroup Properties, Inc. $EGP

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 46,119 shares of the real estate investment trust’s stock, valued at approximately $9,340,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in shares of EastGroup Properties by 18,900.0% during the first 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 last quarter. Goldman Sachs Group Inc. raised its holdings in EastGroup Properties by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after buying an additional 41,538 shares during the last quarter. Jane Street Group LLC boosted its position in EastGroup Properties by 309.8% during the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after buying an additional 12,003 shares during the period. Focus Partners Wealth boosted its position in EastGroup Properties by 2.2% during the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares during the period. Finally, Cetera Investment Advisers grew its holdings in EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Activity

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction on Thursday, June 4th. The shares were 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 of the company’s stock, valued at $691,263.87. The trade was a 12.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

EastGroup Properties Trading Down 0.4%

NYSE:EGP opened at $201.41 on Friday. EastGroup Properties, Inc. has a 12 month low of $162.95 and a 12 month high of $226.71. 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 stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.95 and a beta of 1.02. The firm has a fifty day simple moving average of $207.70 and a two-hundred day simple moving average of $199.24.

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

Analyst Upgrades and Downgrades

EGP has been the subject of a number of recent research reports. Evercore set a $206.00 price objective on EastGroup Properties in a report on Thursday, July 23rd. Wells Fargo & Company lifted their target price on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. BTIG Research upped their price target on EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada increased their price target 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. Finally, Truist Financial lifted their price objective on EastGroup Properties from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.