EastGroup Properties, Inc. $EGP Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 29.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,181 shares of the real estate investment trust’s stock after acquiring an additional 21,158 shares during the quarter. SG Americas Securities LLC’s holdings in EastGroup Properties were worth $17,062,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cohen & Steers Inc. grew its holdings in EastGroup Properties by 7.0% in the fourth quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock valued at $545,746,000 after purchasing an additional 200,617 shares during the period. State Street Corp raised its stake in shares of EastGroup Properties by 0.6% during the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after buying an additional 15,918 shares during the period. Principal Financial Group Inc. lifted its position in shares of EastGroup Properties by 16.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust’s stock valued at $410,404,000 after buying an additional 318,261 shares in the last quarter. Norges Bank purchased a new position in shares of EastGroup Properties during the 4th quarter valued at approximately $281,054,000. Finally, Boston Partners grew its stake in EastGroup Properties by 2.1% in the 3rd quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust’s stock valued at $203,834,000 after acquiring an additional 25,055 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on EGP. Robert W. Baird boosted their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $217.00 price objective on shares of EastGroup Properties in a report on Monday, April 27th. Morgan Stanley lifted their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Raymond James Financial started coverage on shares of EastGroup Properties in a research note on Wednesday, June 17th. They set an “outperform” rating and a $241.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.12.

Insider Transactions at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the sale, the director owned 3,531 shares of the company’s stock, valued at $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

EastGroup Properties Stock Performance

NYSE EGP opened at $204.56 on Friday. The company has a market cap of $11.00 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04. The stock’s 50 day simple moving average is $201.79 and its 200-day simple moving average is $191.64. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $207.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. During the same period in the previous year, the business earned $2.15 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities research analysts anticipate that EastGroup Properties, Inc. will post 9.58 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s payout ratio is 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.