BI Asset Management Fondsmaeglerselskab A S Grows Holdings in EastGroup Properties, Inc. $EGP

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 3,046.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,359 shares of the real estate investment trust’s stock after purchasing an additional 24,553 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in EastGroup Properties were worth $4,694,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of EastGroup Properties in the second quarter worth about $27,000. MAI Capital Management increased its stake in EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 82 shares during the period. Parallel Advisors LLC lifted its holdings in 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 buying an additional 85 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in EastGroup Properties by 35.6% in the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 69 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EGP has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a report on Monday, April 27th. Royal Bank Of Canada increased their price objective 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. Finally, Robert W. Baird raised their price objective on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Eleven 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, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average target price of $210.12.

EastGroup Properties Trading Up 1.7%

NYSE EGP opened at $203.42 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 3.00 and a beta of 1.04. The company’s 50-day simple moving average is $201.17 and its two-hundred day simple moving average is $191.12. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $207.72.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results 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. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same quarter in the previous year, the business posted $2.15 EPS. The company’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. Equities analysts forecast that EastGroup Properties, Inc. will post 9.58 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

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

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the sale, the director owned 3,531 shares in the company, valued at $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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.