Elevated Capital Advisors LLC Lowers Stock Position in EastGroup Properties, Inc. $EGP

Elevated Capital Advisors LLC lessened its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 93.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322 shares of the real estate investment trust’s stock after selling 4,328 shares during the quarter. Elevated Capital Advisors LLC’s holdings in EastGroup Properties were worth $60,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State of Wyoming purchased a new stake in shares of EastGroup Properties during the 2nd quarter worth about $27,000. Parallel Advisors LLC increased its stake in shares of EastGroup Properties by 53.5% in the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 85 shares in the last quarter. Clearstead Advisors LLC increased its stake in shares of EastGroup Properties by 114.9% in the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 139 shares in the last quarter. Larson Financial Group LLC raised its holdings 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 worth $47,000 after purchasing an additional 69 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in EastGroup Properties by 414.5% in the 4th quarter. Global Retirement Partners LLC now owns 319 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on EGP shares. Truist Financial boosted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. BTIG Research increased their target price on EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada lifted their price target on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a report on Monday, April 27th. Finally, Evercore set a $195.00 price objective on shares of EastGroup Properties in a research report on Friday, April 24th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus price target of $211.59.

EastGroup Properties Price Performance

EGP traded down $0.99 on Friday, hitting $209.44. 378,496 shares of the company’s stock were exchanged, compared to its average volume of 374,655. EastGroup Properties, Inc. has a fifty-two week low of $159.37 and a fifty-two week high of $216.98. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 38.08, a P/E/G ratio of 3.15 and a beta of 1.03. The firm has a 50-day moving average price of $203.82 and a 200-day moving average price of $193.68. 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 (NYSE:EGP) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (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 company had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. During the same quarter in the prior year, the company earned $2.15 EPS. EastGroup Properties’s 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. As a group, equities analysts anticipate that EastGroup Properties, Inc. will post 9.58 earnings per share for the current year.

EastGroup Properties Dividend Announcement

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

Insider Transactions at EastGroup Properties

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

EastGroup Properties Company 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.