Magnolia Capital Advisors LLC Takes $3.86 Million Position in EastGroup Properties, Inc. $EGP

Magnolia Capital Advisors LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,047 shares of the real estate investment trust’s stock, valued at approximately $3,858,000.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 945 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of 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 period. Jane Street Group LLC increased its stake in shares of EastGroup Properties by 309.8% in the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after buying an additional 12,003 shares during the period. Focus Partners Wealth raised its position in shares of EastGroup Properties by 2.2% during 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 during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of EastGroup Properties by 1.9% during the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 68 shares during the period. 92.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EGP. Royal Bank Of Canada lifted their target price on shares of EastGroup Properties from $208.00 to $220.00 and gave the stock a “sector perform” rating in a report on Monday, August 3rd. Morgan Stanley raised their price target on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Robert W. Baird set a $221.00 price objective on EastGroup Properties in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of EastGroup Properties in a report on Tuesday, July 21st. Finally, Barclays increased their target price on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.11.

EastGroup Properties Trading Down 0.9%

NYSE:EGP opened at $200.93 on Thursday. The business’s 50-day simple moving average is $207.62 and its 200-day simple moving average is $199.78. EastGroup Properties, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $226.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $10.80 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) 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 firm had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. During the same quarter in the prior year, the company earned $2.21 EPS. The company’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. Sell-side analysts expect that EastGroup Properties, Inc. will post 9.6 earnings per share for the current fiscal year.

Insider Activity at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction 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 completion of the sale, the director 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 legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

About EastGroup Properties

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.