IFM Investors Pty Ltd Invests $1.61 Million in EastGroup Properties, Inc. $EGP

IFM Investors Pty Ltd bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,705 shares of the real estate investment trust’s stock, valued at approximately $1,611,000.

Other large investors have also recently modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC increased its position in EastGroup Properties by 5.1% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock valued at $126,677,000 after acquiring an additional 34,515 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of EastGroup Properties by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock valued at $9,284,000 after acquiring an additional 7,212 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of EastGroup Properties by 22.1% in the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock worth $5,260,000 after acquiring an additional 5,341 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of EastGroup Properties in the 3rd quarter worth about $8,151,000. Finally, DigitalBridge Group Inc. purchased a new position in shares of EastGroup Properties during the 3rd quarter worth about $1,574,000. Institutional investors own 92.14% of the company’s stock.

Insider Activity at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the firm’s 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 sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

EastGroup Properties Trading Down 0.1%

Shares of NYSE:EGP opened at $211.08 on Friday. The company has a market capitalization of $11.35 billion, a PE ratio of 38.38, a P/E/G ratio of 3.17 and a beta of 1.03. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 12-month low of $159.37 and a 12-month high of $211.34. The business’s fifty day simple moving average is $202.67 and its 200-day simple moving average is $192.66.

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. 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 during the quarter, compared to analysts’ expectations of $193.84 million. During the same period in the prior year, the business posted $2.15 EPS. The firm’s quarterly 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. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 9.58 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is presently 112.73%.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Truist Financial boosted their target price on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Wells Fargo & Company upped their target price on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, KeyCorp lifted their target price on EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and an average price target of $211.59.

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.