Heartland Advisors Inc. Makes New $8.71 Million Investment in EastGroup Properties, Inc. $EGP

Heartland Advisors Inc. acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,986 shares of the real estate investment trust’s stock, valued at approximately $8,706,000. Heartland Advisors Inc. owned approximately 0.08% of EastGroup Properties at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EGP. Jones Financial Companies Lllp boosted 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 during the period. Goldman Sachs Group Inc. lifted its position in shares of EastGroup Properties by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after acquiring an additional 41,538 shares in the last quarter. Jane Street Group LLC lifted its position 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 valued at $2,797,000 after acquiring an additional 12,003 shares in the last quarter. Focus Partners Wealth boosted 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 during the period. Finally, Cetera Investment Advisers boosted its stake in shares of 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 worth $613,000 after acquiring an additional 68 shares during the period. 92.14% of the stock is currently owned by institutional investors.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

EastGroup Properties Trading Up 0.0%

Shares of EGP opened at $201.15 on Friday. The company’s fifty day simple moving average is $207.62 and its 200-day simple moving average is $199.26. The company 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, Inc. has a twelve month low of $163.10 and a twelve month high of $226.71.

EastGroup Properties (NYSE:EGP) last released its quarterly 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 firm had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, analysts expect that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EGP shares. Raymond James Financial started coverage on EastGroup Properties in a research note on Wednesday, June 17th. They set an “outperform” rating and a $241.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $235.00 price target on shares of EastGroup Properties in a research note on Monday, July 27th. Citigroup increased their price objective on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 24th. Royal Bank Of Canada increased their price objective on shares of EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. Finally, 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 report on Wednesday, July 1st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.