Jupiter Topco LLC Acquires New Stake in EastGroup Properties, Inc. $EGP

Jupiter Topco LLC acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 43,412 shares of the real estate investment trust’s stock, valued at approximately $8,796,000. Jupiter Topco LLC owned about 0.08% of EastGroup Properties at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of EastGroup Properties during the second quarter valued at $1,553,186,000. Norges Bank purchased a new stake in EastGroup Properties during the 4th quarter valued at about $281,054,000. Deutsche Bank AG purchased a new stake in EastGroup Properties during the 2nd quarter valued at about $114,775,000. Bank of New York Mellon Corp purchased a new stake in EastGroup Properties during the 2nd quarter valued at about $93,282,000. Finally, Principal Financial Group Inc. increased its stake in 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 purchasing an additional 318,261 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EGP. Piper Sandler reiterated an “overweight” rating on shares of EastGroup Properties in a research note on Thursday, August 13th. Wells Fargo & Company raised their price target on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Raymond James Financial began coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price objective for the company. Robert W. Baird set a $221.00 price objective on EastGroup Properties in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of EastGroup Properties in a research note 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, the company currently has an average rating of “Moderate Buy” and an average target price of $221.11.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $199.90 on Monday. The company has a 50 day moving average price of $207.62 and a 200-day moving average price of $199.91. EastGroup Properties, Inc. has a 52 week low of $163.10 and a 52 week high of $226.71. The firm has a market capitalization of $10.75 billion, a PE ratio of 35.07, a P/E/G ratio of 2.91 and a beta of 1.02. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45.

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 for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm’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, equities research analysts expect that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

EastGroup Properties Increases Dividend

The company 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 $1.75 dividend. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, September 30th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.5%. EastGroup Properties’s dividend payout ratio (DPR) is 108.77%.

Insider Activity

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

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.