GSA Capital Partners LLP Buys New Shares in EastGroup Properties, Inc. $EGP

GSA Capital Partners LLP bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 6,050 shares of the real estate investment trust’s stock, valued at approximately $1,225,000.

Several other large investors have also recently bought and sold shares of the stock. Renaissance Group LLC grew its stake in EastGroup Properties by 3.9% in the fourth quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 54 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of EastGroup Properties by 4.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 60 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 68 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of EastGroup Properties by 35.6% during the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 69 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its holdings in shares of EastGroup Properties by 3.0% in the 4th quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 73 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James Financial started coverage on shares of EastGroup Properties in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 target price for the company. Citigroup upped their price target on shares of EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Morgan Stanley increased their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Evercore set a $206.00 price objective on shares of EastGroup Properties in a research report on Thursday, July 23rd. Finally, Barclays boosted their price objective on shares of EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and a consensus target price of $221.11.

Insider Transactions at EastGroup Properties

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

EastGroup Properties Stock Up 0.1%

EastGroup Properties stock opened at $203.35 on Tuesday. The company’s 50-day moving average price is $207.72 and its two-hundred day moving average price is $198.78. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. The stock has a market cap of $10.93 billion, a P/E ratio of 35.68, a P/E/G ratio of 3.04 and a beta of 1.02. EastGroup Properties, Inc. has a twelve month low of $160.79 and a twelve month high of $226.71.

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

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.55 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s payout ratio is 108.77%.

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.