American Century Companies Inc. Trims Stake in EastGroup Properties, Inc. $EGP

American Century Companies Inc. cut its stake in EastGroup Properties, Inc. (NYSE:EGP) by 28.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,459 shares of the real estate investment trust’s stock after selling 78,349 shares during the period. American Century Companies Inc. owned 0.36% of EastGroup Properties worth $32,498,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Cetera Investment Advisers raised its position in shares of EastGroup Properties by 16.8% in the 1st quarter. Cetera Investment Advisers now owns 3,600 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 518 shares in the last quarter. Assetmark Inc. grew its stake in EastGroup Properties by 1,035.7% in the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 145 shares during the period. HB Wealth Management LLC raised its holdings in EastGroup Properties by 29.0% in the first quarter. HB Wealth Management LLC now owns 1,694 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 381 shares in the last quarter. LPL Financial LLC raised its holdings in EastGroup Properties by 19.5% in the first quarter. LPL Financial LLC now owns 15,890 shares of the real estate investment trust’s stock worth $2,799,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in EastGroup Properties by 10.5% during the first quarter. Federated Hermes Inc. now owns 6,568 shares of the real estate investment trust’s stock valued at $1,157,000 after buying an additional 625 shares during the period. 92.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president owned 20,630 shares in the company, valued at approximately $3,610,250. This represents a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EGP shares. Robert W. Baird upped their target price on shares of EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada set a $183.00 price objective on shares of EastGroup Properties and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. BNP Paribas Exane raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Monday, October 27th. Cantor Fitzgerald lifted their target price on shares of EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Wells Fargo & Company boosted their price target on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus price target of $190.80.

EastGroup Properties Stock Performance

Shares of EGP opened at $181.18 on Friday. The business’s fifty day simple moving average is $175.08 and its two-hundred day simple moving average is $170.04. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $188.89. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 38.06, a P/E/G ratio of 3.67 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results 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 business had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. Research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Company Profile

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.