Mach 1 Financial Group LLC Takes Position in EastGroup Properties, Inc. $EGP

Mach 1 Financial Group LLC purchased a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the fourth quarter, Holdings Channel.com reports. The fund purchased 4,578 shares of the real estate investment trust’s stock, valued at approximately $816,000.

A number of other institutional investors also recently modified their holdings of EGP. State of Wyoming purchased a new stake in shares of EastGroup Properties during the 2nd quarter valued at approximately $27,000. MAI Capital Management lifted its stake in shares of EastGroup Properties by 83.7% during the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 82 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of 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. AlphaQuest LLC lifted its stake in shares of EastGroup Properties by 26,500.0% during the 3rd quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 265 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of EastGroup Properties by 35.6% during 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 in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Performance

NYSE:EGP opened at $205.07 on Friday. The business’s 50-day moving average price is $194.87 and its two-hundred day moving average price is $187.51. EastGroup Properties, Inc. has a twelve month low of $159.37 and a twelve month high of $206.78. The stock has a market cap of $11.02 billion, a P/E ratio of 37.28, a PEG ratio of 3.09 and a beta of 1.05. 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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $193.84 million. During the same quarter last year, the firm posted $2.15 EPS. The company’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 predict that EastGroup Properties, Inc. will post 9.56 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. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.0%. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

Wall Street Analyst Weigh In

A number of analysts recently commented on EGP shares. Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings raised EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Robert W. Baird increased 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. KeyCorp increased their price objective on EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, 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 report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.33.

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.