SG Americas Securities LLC Purchases 20,899 Shares of EastGroup Properties, Inc. $EGP

SG Americas Securities LLC grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1,115.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,773 shares of the real estate investment trust’s stock after purchasing an additional 20,899 shares during the quarter. SG Americas Securities LLC’s holdings in EastGroup Properties were worth $3,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. boosted its position in EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 145 shares during the period. Hilltop National Bank bought a new position in shares of EastGroup Properties during the second quarter valued at $111,000. First Eagle Investment Management LLC lifted its holdings in shares of EastGroup Properties by 51.9% during the second quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 284 shares during the period. Jones Financial Companies Lllp grew its stake in shares of EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of EastGroup Properties in the first quarter worth $203,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of EGP opened at $179.93 on Wednesday. The firm has a market cap of $9.60 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 3.67 and a beta of 1.04. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $188.89. The business’s 50 day moving average price is $172.97 and its two-hundred day moving average price is $169.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The company had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same period last year, the business earned $2.13 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. On average, equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $1.55 per share. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.20 dividend on an annualized basis and a yield of 3.4%. EastGroup Properties’s dividend payout ratio (DPR) is currently 130.25%.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Industrial Alliance Securities set a $200.00 target price on EastGroup Properties in a report on Monday, October 27th. Truist Financial lifted their price objective on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada set a $183.00 target price on shares of EastGroup Properties and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. Cantor Fitzgerald boosted their price target on shares of EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of EastGroup Properties in a research report on Monday. One investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $190.80.

About EastGroup Properties

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.