82,294 Shares in EastGroup Properties, Inc. $EGP Bought by Palisade Capital Management LP

Palisade Capital Management LP purchased a new position in EastGroup Properties, Inc. (NYSE:EGP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 82,294 shares of the real estate investment trust’s stock, valued at approximately $16,667,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Wyoming bought a new stake in shares of EastGroup Properties in the 2nd quarter valued at approximately $27,000. Glen Eagle Advisors LLC lifted its stake in EastGroup Properties by 96.3% during 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 last quarter. Parallel Advisors LLC boosted its holdings in EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 85 shares during the period. Clearstead Advisors LLC increased its stake in EastGroup Properties by 114.9% during the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 139 shares during the last quarter. Finally, Avalon Trust Co bought a new stake in EastGroup Properties during the first quarter valued at $46,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EGP. JPMorgan Chase & Co. raised their price target on shares of EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. KeyCorp increased their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Royal Bank Of Canada raised 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. Wells Fargo & Company lifted their target price on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, Piper Sandler restated an “overweight” rating on shares of EastGroup Properties in a research report on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.11.

EastGroup Properties Stock Performance

Shares of NYSE EGP opened at $202.91 on Wednesday. EastGroup Properties, Inc. has a 1 year low of $163.10 and a 1 year high of $226.71. The firm has a market cap of $10.91 billion, a P/E ratio of 35.60, a PEG ratio of 2.95 and a beta of 1.02. The stock has a fifty day moving average price of $207.56 and a two-hundred day moving average price of $199.69. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data 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 company had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Research analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

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 dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

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.