New Age Alpha Advisors LLC Trims Stake in EastGroup Properties, Inc. $EGP

New Age Alpha Advisors LLC reduced its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 16.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,112 shares of the real estate investment trust’s stock after selling 2,457 shares during the period. New Age Alpha Advisors LLC’s holdings in EastGroup Properties were worth $2,158,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of EastGroup Properties during the 2nd quarter valued at $27,000. MAI Capital Management grew its position in shares of EastGroup Properties by 83.7% during the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 82 shares in the last quarter. Parallel Advisors LLC grew its position in shares of EastGroup Properties by 53.5% during the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 85 shares in the last quarter. AlphaQuest LLC grew its position in shares of EastGroup Properties by 26,500.0% during the 3rd quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 265 shares in the last quarter. Finally, Larson Financial Group LLC grew its position 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 valued at $47,000 after purchasing an additional 69 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 0.9%

Shares of NYSE:EGP opened at $207.06 on Wednesday. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72. The firm has a fifty day moving average of $195.92 and a 200 day moving average of $188.16. The firm has a market capitalization of $11.13 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 3.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (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 company had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same period in the previous year, the business earned $2.15 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, research analysts anticipate that EastGroup Properties, Inc. will post 9.56 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s payout ratio is 112.73%.

Analysts Set New Price Targets

A number of research firms have recently commented on EGP. Royal Bank Of Canada boosted their price target on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. KeyCorp upped their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $217.00 target price on shares of EastGroup Properties in a research report on Monday, April 27th. Finally, Morgan Stanley upped their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.33.

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.