14,110 Shares in EastGroup Properties, Inc. $EGP Purchased by Westpac Banking Corp

Westpac Banking Corp purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,110 shares of the real estate investment trust’s stock, valued at approximately $2,858,000.

A number of other hedge funds also recently modified their holdings of the company. State of Wyoming acquired a new position in shares of EastGroup Properties in the second quarter valued at $27,000. Glen Eagle Advisors LLC lifted its position in 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 worth $39,000 after purchasing an additional 104 shares during the period. Parallel Advisors LLC boosted its stake in EastGroup Properties by 53.5% during the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 85 shares in the last quarter. Avalon Trust Co bought a new stake in EastGroup Properties in the 1st quarter valued at $46,000. Finally, Clearstead Advisors LLC increased its holdings in EastGroup Properties by 114.9% in 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. Institutional investors own 92.14% of the company’s stock.

Analysts Set New Price Targets

EGP has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of EastGroup Properties from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada upped their target price on shares of EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Wells Fargo & Company increased their price target on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Barclays lifted their price objective on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Evercore set a $206.00 price objective on EastGroup Properties in a research note on Thursday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and a consensus target price of $221.11.

EastGroup Properties Stock Up 0.0%

Shares of NYSE EGP opened at $201.15 on Friday. EastGroup Properties, Inc. has a 52-week low of $163.10 and a 52-week high of $226.71. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. The business has a fifty day moving average of $207.62 and a two-hundred day moving average of $199.26. The stock has a market cap of $10.82 billion, a PE ratio of 35.29, a PEG ratio of 2.93 and a beta of 1.02.

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

Insider Buying and Selling

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the sale, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

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.