Centersquare Investment Management LLC Purchases 124,971 Shares of EastGroup Properties, Inc. $EGP

Centersquare Investment Management LLC raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 42.0% in the 4th quarter, Holdings Channel reports. The firm owned 422,290 shares of the real estate investment trust’s stock after buying an additional 124,971 shares during the period. Centersquare Investment Management LLC’s holdings in EastGroup Properties were worth $75,227,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC increased its position in shares of EastGroup Properties by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock worth $9,284,000 after acquiring an additional 7,212 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in shares of EastGroup Properties by 5.1% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock worth $126,677,000 after acquiring an additional 34,515 shares in the last quarter. Citigroup Inc. increased its position in shares of EastGroup Properties by 38.3% during the third quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock worth $10,403,000 after acquiring an additional 17,009 shares in the last quarter. DigitalBridge Group Inc. bought a new stake in shares of EastGroup Properties during the third quarter worth $1,574,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of EastGroup Properties during the third quarter worth $8,151,000. Institutional investors own 92.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EGP shares. KeyCorp increased their price objective on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Robert W. Baird increased their price objective on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada increased their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Evercore set a $195.00 price objective on shares of EastGroup Properties in a research report on Friday, April 24th. Finally, Wells Fargo & Company increased their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.07.

EastGroup Properties Stock Performance

Shares of EGP opened at $202.98 on Friday. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $207.72. The firm has a fifty day simple moving average of $199.44 and a 200 day simple moving average of $190.07. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.02 and a beta of 1.04. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last announced its 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 net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. During the same quarter in the prior year, the company posted $2.15 earnings per share. The firm’s 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. Research analysts forecast that EastGroup Properties, Inc. will post 9.57 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.1%. EastGroup Properties’s dividend payout ratio is presently 112.73%.

Insider Buying and Selling

In related news, Director David Michael Fields sold 504 shares of the 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 transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

EastGroup Properties Company 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.