Brown Advisory Inc. Sells 31,274 Shares of EastGroup Properties, Inc. $EGP

Brown Advisory Inc. reduced its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 8.4% during the fourth quarter, Holdings Channel reports. The fund owned 339,896 shares of the real estate investment trust’s stock after selling 31,274 shares during the period. Brown Advisory Inc.’s holdings in EastGroup Properties were worth $60,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Renaissance Group LLC grew its position in EastGroup Properties by 3.9% during the fourth quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock valued at $256,000 after acquiring an additional 54 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of EastGroup Properties by 2.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 62 shares during the period. Cetera Investment Advisers lifted its stake in 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 worth $613,000 after acquiring an additional 68 shares during the period. Larson Financial Group LLC lifted its stake in EastGroup Properties by 35.6% in the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 69 shares during the period. Finally, Swiss Life Asset Management Ltd lifted its stake in EastGroup Properties by 3.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 73 shares during the period. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Trading Down 0.0%

EastGroup Properties stock opened at $205.27 on Monday. The business has a 50-day simple moving average of $199.79 and a two-hundred day simple moving average of $190.24. The company has a market cap of $11.04 billion, a P/E ratio of 37.32, a P/E/G ratio of 3.09 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.

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

EastGroup Properties Announces Dividend

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

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

EGP has been the subject of several recent research reports. Royal Bank Of Canada raised their price objective on EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. KeyCorp raised their price objective on EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Robert W. Baird raised 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. Wells Fargo & Company raised their price target on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.07.

About EastGroup Properties

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.