Published on 20 Oct 2023 on Insider Monkey via Yahoo Finance
Should You Consider Investing in EastGroup Properties (EGP)?
Baron Funds, an investment management firm, released its “Baron Real Estate Income Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. In the first nine months of 2023, the Fund has increased 1.20%, outperforming the REIT Index, which declined 2.89%. As of September 30, 2023, the Fund has maintained its top 3% ranking among all real estate funds for its 5-year performance period. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
In its Q3 2023 investor letter, Baron Real Estate Income Fund mentioned EastGroup Properties, Inc. (NYSE:EGP) and explained its insights for the company. Founded in 1969, EastGroup Properties, Inc. (NYSE:EGP) is a Jackson, Mississippi-based real estate investment trust company with a $7.2 billion market capitalization. EastGroup Properties, Inc. (NYSE:EGP) delivered a 7.36% return since the beginning of the year, while its 12-month returns are up by 12.14%. The stock closed at $158.96 per share on October 19, 2023.
Here is what Baron Real Estate Income Fund has to say about EastGroup Properties, Inc. (NYSE:EGP) in its Q3 2023 investor letter: