EastGroup Properties (NYSE:EGP) Director Sells $98,668.08 in Stock

EastGroup Properties, Inc. (NYSE:EGP) Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

EastGroup Properties Stock Performance

Shares of EGP opened at $201.18 on Thursday. The firm has a 50-day moving average of $199.09 and a 200-day moving average of $189.90. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $207.72. The company has a market cap of $10.82 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 3.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $193.84 million. During the same quarter last year, the firm posted $2.15 EPS. The company’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 analysts forecast that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company 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 $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

Analysts Set New Price Targets

A number of brokerages have recently commented on EGP. Robert W. Baird lifted their price objective on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $217.00 price objective on shares of EastGroup Properties in a research report on Monday, April 27th. Wells Fargo & Company lifted their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Citigroup lifted their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.07.

Institutional Trading of EastGroup Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of EastGroup Properties during the 2nd quarter worth about $27,000. MAI Capital Management boosted its holdings 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 worth $31,000 after buying an additional 82 shares during the period. Glen Eagle Advisors LLC boosted its holdings in shares of EastGroup Properties by 96.3% during the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 104 shares during the period. Parallel Advisors LLC boosted its holdings 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 worth $41,000 after buying an additional 85 shares during the period. Finally, AlphaQuest LLC boosted its holdings 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 worth $45,000 after buying an additional 265 shares during the period. Institutional investors own 92.14% of the company’s stock.

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.