Geode Capital Management LLC Boosts Stock Position in EastGroup Properties, Inc. $EGP

Geode Capital Management LLC boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,153,355 shares of the real estate investment trust’s stock after acquiring an additional 26,191 shares during the quarter. Geode Capital Management LLC owned 2.16% of EastGroup Properties worth $205,495,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV lifted its holdings in shares of EastGroup Properties by 2.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 62 shares during the period. Cetera Investment Advisers lifted its holdings in shares of EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after buying an additional 68 shares during the period. Larson Financial Group LLC lifted its holdings in shares of 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 worth $47,000 after buying an additional 69 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in shares of EastGroup Properties by 3.0% in the 4th quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 73 shares during the period. Finally, Inscription Capital LLC lifted its holdings in shares of EastGroup Properties by 1.1% in the 4th quarter. Inscription Capital LLC now owns 6,991 shares of the real estate investment trust’s stock worth $1,245,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 0.4%

Shares of NYSE EGP opened at $195.60 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market capitalization of $10.52 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 2.93 and a beta of 1.04. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $207.72. The business has a fifty day moving average price of $196.96 and a 200 day moving average price of $188.86.

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

EastGroup Properties Dividend Announcement

The business 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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is 112.73%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EGP shares. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Robert W. Baird upped their target price on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Evercore set a $195.00 target price on EastGroup Properties in a report on Friday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $217.00 target price on shares of EastGroup Properties in a report on Monday, April 27th. Finally, Truist Financial upped their target price on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.