3,325 Shares in EastGroup Properties, Inc. $EGP Bought by Allen Investment Management LLC

Allen Investment Management LLC acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,325 shares of the real estate investment trust’s stock, valued at approximately $592,000.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in 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 buying an additional 945 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after purchasing an additional 41,538 shares during the period. Jane Street Group LLC increased its position in EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after buying an additional 12,003 shares during the last quarter. Focus Partners Wealth increased its position in EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of EastGroup Properties by 1.9% in the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 68 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 0.4%

EGP stock opened at $195.60 on Wednesday. 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 firm has a market capitalization of $10.52 billion, a PE ratio of 35.56, a PEG ratio of 2.93 and a beta of 1.04. EastGroup Properties, Inc. has a twelve month low of $159.37 and a twelve month high of $207.72. The stock has a 50-day simple moving average of $196.96 and a two-hundred day simple moving average of $188.86.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million for the quarter, compared to analysts’ expectations of $193.84 million. During the same period in the prior year, the business posted $2.15 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities analysts predict that EastGroup Properties, Inc. will post 9.57 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is 112.73%.

Wall Street Analysts Forecast Growth

EGP has been the subject of several research reports. Royal Bank Of Canada increased their price target on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $217.00 price objective on shares of EastGroup Properties in a report on Monday, April 27th. Robert W. Baird increased their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Morgan Stanley lifted their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company boosted 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. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.07.

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.