Hazelview Securities Inc. Buys 31,025 Shares of EastGroup Properties, Inc. $EGP

by · The Cerbat Gem

Hazelview Securities Inc. boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP – Free Report) by 56.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 85,525 shares of the real estate investment trust’s stock after buying an additional 31,025 shares during the quarter. EastGroup Properties makes up 2.5% of Hazelview Securities Inc.’s holdings, making the stock its 19th largest holding. Hazelview Securities Inc.’s holdings in EastGroup Properties were worth $14,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hilltop National Bank bought a new position in shares of EastGroup Properties during the 2nd quarter worth about $111,000. First Eagle Investment Management LLC lifted its stake in shares of EastGroup Properties by 51.9% in the second quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 284 shares during the period. Virtus Investment Advisers LLC grew its position in EastGroup Properties by 7.5% during the second quarter. Virtus Investment Advisers LLC now owns 999 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 70 shares in the last quarter. Jones Financial Companies Lllp grew its position in EastGroup Properties by 18,900.0% during the first 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 in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in EastGroup Properties during the first quarter valued at about $219,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Trading Down 1.1%

Shares of EastGroup Properties stock opened at $182.29 on Friday. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $188.89. The stock has a market capitalization of $9.72 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 2.77 and a beta of 1.11. The company has a 50-day simple moving average of $177.44 and a 200 day simple moving average of $170.86. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42.

EastGroup Properties (NYSE:EGP – Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01). The firm had revenue of $182.14 million for the quarter, compared to the consensus estimate of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.EastGroup Properties’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 earnings per share. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. Research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EGP has been the subject of a number of research reports. Mizuho reiterated a “neutral” rating and issued a $172.00 price objective (down previously from $180.00) on shares of EastGroup Properties in a research report on Thursday, December 4th. KeyCorp upgraded EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 target price for the company in a research note on Thursday, December 4th. Wells Fargo & Company raised their target price on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Robert W. Baird boosted their price target on shares of EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Evercore ISI dropped their price objective on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.56.

View Our Latest Stock Analysis on EGP

Insiders Place Their Bets

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president owned 20,630 shares in the company, valued at approximately $3,610,250. The trade was a 8.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

EastGroup Properties Profile

(Free Report)

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

See Also

Want to see what other hedge funds are holding EGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EastGroup Properties, Inc. (NYSE:EGP – Free Report).