Trustmark Bank Trust Department Cuts Stake in EastGroup Properties, Inc. $EGP

Trustmark Bank Trust Department lessened its position in EastGroup Properties, Inc. (NYSE:EGP) by 49.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,677 shares of the real estate investment trust’s stock after selling 18,240 shares during the period. Trustmark Bank Trust Department’s holdings in EastGroup Properties were worth $3,783,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of EastGroup Properties by 11.5% in the 2nd quarter. Wellington Management Group LLP now owns 224,548 shares of the real estate investment trust’s stock worth $45,478,000 after purchasing an additional 23,156 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in shares of EastGroup Properties during the second quarter valued at $462,000. United Capital Financial Advisors LLC purchased a new stake in shares of EastGroup Properties during the second quarter valued at $891,000. Public Employees Retirement System of Ohio purchased a new stake in shares of EastGroup Properties during the second quarter valued at $22,855,000. Finally, Adelante Capital Management LLC bought a new stake in EastGroup Properties in the 2nd quarter worth about $8,904,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the business’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. The trade was a 12.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

EastGroup Properties Stock Down 0.0%

EGP stock opened at $199.90 on Friday. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. The business’s 50-day moving average is $207.62 and its two-hundred day moving average is $199.85. EastGroup Properties, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $226.71.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The firm had revenue of $193.33 million during the quarter, compared to analyst estimates of $193.61 million. During the same quarter in the prior year, the firm earned $2.21 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, analysts forecast that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.75 per share. The ex-dividend date is Wednesday, September 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.5%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.55. EastGroup Properties’s dividend payout ratio is 108.77%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $235.00 target price on shares of EastGroup Properties in a research report on Monday, July 27th. Wells Fargo & Company lifted their price target on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Citigroup boosted their price objective on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 24th. Barclays increased their price objective on shares of EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of EastGroup Properties in a report on Tuesday, July 21st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus target price of $221.11.

About EastGroup Properties

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.