11,210 Shares in EastGroup Properties, Inc. $EGP Acquired by Horizon Investments LLC

Horizon Investments LLC acquired a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,210 shares of the real estate investment trust’s stock, valued at approximately $1,997,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in EastGroup Properties by 11.3% during the 4th quarter. Fifth Third Bancorp now owns 2,513 shares of the real estate investment trust’s stock worth $448,000 after purchasing an additional 256 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in EastGroup Properties by 0.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 18,002 shares of the real estate investment trust’s stock worth $3,207,000 after purchasing an additional 146 shares in the last quarter. Interchange Capital Partners LLC acquired a new position in EastGroup Properties during the 4th quarter worth approximately $263,000. Certuity LLC increased its position in EastGroup Properties by 29.2% during the 4th quarter. Certuity LLC now owns 2,316 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 523 shares in the last quarter. Finally, M&T Bank Corp increased its position in EastGroup Properties by 59.9% during the 4th quarter. M&T Bank Corp now owns 12,597 shares of the real estate investment trust’s stock worth $2,244,000 after purchasing an additional 4,720 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on EGP. Weiss Ratings upgraded shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Morgan Stanley upped their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a research report on Monday, April 27th. Citigroup upped their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Truist Financial upped their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

EastGroup Properties Trading Up 1.0%

NYSE:EGP opened at $200.25 on Wednesday. The firm’s fifty day moving average is $192.30 and its 200-day moving average is $185.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $203.60. The firm has a market cap of $10.77 billion, a P/E ratio of 36.41, a P/E/G ratio of 2.99 and a beta of 1.05.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same period in the prior year, the firm posted $2.15 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities analysts expect that EastGroup Properties, Inc. will post 9.56 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. EastGroup Properties’s dividend payout ratio is currently 112.73%.

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.