Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 1,968 Shares of EastGroup Properties, Inc. $EGP

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in EastGroup Properties, Inc. (NYSE:EGP) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 30,362 shares of the real estate investment trust’s stock after buying an additional 1,968 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in EastGroup Properties were worth $5,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of 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 acquired a new stake in EastGroup Properties during the second quarter worth approximately $111,000. First Eagle Investment Management LLC boosted 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 acquiring an additional 284 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 945 shares during the period. Finally, Choreo LLC acquired a new position in shares of EastGroup Properties in the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Buying and Selling at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the executive vice president directly owned 20,630 shares of the company’s stock, valued at $3,610,250. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

EastGroup Properties Price Performance

EGP stock opened at $179.93 on Wednesday. The company’s 50-day moving average price is $172.97 and its two-hundred day moving average price is $169.39. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $188.89. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.60 billion, a P/E ratio of 37.80, a P/E/G ratio of 3.67 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (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 firm had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same quarter in the prior year, the business posted $2.13 EPS. The business’s revenue was up 11.8% on a year-over-year basis. 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, analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on EGP. BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target for the company in a research note on Monday, October 27th. Wells Fargo & Company boosted their target price on shares of EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Royal Bank Of Canada set a $183.00 price target on shares of EastGroup Properties and gave the company a “sector perform” rating in a research note on Tuesday, October 28th. Truist Financial lifted their price objective on shares of EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Morgan Stanley increased their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus target price of $190.80.

EastGroup Properties Company Profile

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.