EastGroup Properties, Inc. (NYSE:EGP – Get Free Report) Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
EastGroup Properties Price Performance
NYSE:EGP opened at $202.61 on Wednesday. The stock has a market capitalization of $10.89 billion, a PE ratio of 36.84, a price-to-earnings-growth ratio of 2.97 and a beta of 1.04. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $207.72. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average price is $198.73 and its 200-day moving average price is $189.72.
EastGroup Properties (NYSE:EGP – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.EastGroup Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities analysts expect that EastGroup Properties, Inc. will post 9.57 EPS for the current fiscal year.
EastGroup Properties Dividend Announcement
Institutional Investors Weigh In On EastGroup Properties
Several institutional investors have recently bought and sold shares of EGP. Norges Bank acquired a new stake in EastGroup Properties in the 4th quarter worth about $281,054,000. Principal Financial Group Inc. boosted its holdings in EastGroup Properties by 16.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust’s stock worth $410,404,000 after buying an additional 318,261 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in EastGroup Properties by 98.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 566,295 shares of the real estate investment trust’s stock worth $100,880,000 after buying an additional 280,819 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in EastGroup Properties by 619.9% in the 3rd quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust’s stock worth $50,324,000 after buying an additional 256,019 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in EastGroup Properties by 7.0% in the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock worth $545,746,000 after buying an additional 200,617 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
EGP has been the subject of a number of recent analyst reports. Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Robert W. Baird boosted their price objective on EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Truist Financial boosted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Morgan Stanley boosted their price objective on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.07.
View Our Latest Stock Report on EastGroup Properties
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.
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