Paralel Advisors LLC Takes $1.50 Million Position in EastGroup Properties, Inc. $EGP

Paralel Advisors LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 7,395 shares of the real estate investment trust’s stock, valued at approximately $1,498,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in EastGroup Properties in the second quarter valued at approximately $1,553,186,000. Norges Bank acquired a new stake in EastGroup Properties during the fourth quarter worth approximately $281,054,000. Deutsche Bank AG acquired a new stake in EastGroup Properties during the second quarter worth approximately $114,775,000. Bank of New York Mellon Corp purchased a new stake in shares of EastGroup Properties during the 2nd quarter worth approximately $93,282,000. Finally, Principal Financial Group Inc. lifted its position in shares of EastGroup Properties by 16.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust’s stock worth $410,404,000 after buying an additional 318,261 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the company’s 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 completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

EastGroup Properties Trading Down 0.4%

Shares of EGP stock opened at $201.41 on Friday. The company has a market capitalization of $10.83 billion, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 2.95 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. The business’s 50 day moving average is $207.70 and its two-hundred day moving average is $199.24. EastGroup Properties, Inc. has a twelve month low of $162.95 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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $193.61 million. During the same quarter in the prior year, the business earned $2.21 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Equities analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore set a $206.00 target price on shares of EastGroup Properties in a report on Thursday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $235.00 price target on shares of EastGroup Properties in a research report on Monday, July 27th. Citigroup boosted their price target on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company raised their price objective on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada boosted their target price on EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average price target of $221.11.

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.