Sei Investments Co. Has $36.80 Million Stake in EastGroup Properties, Inc. $EGP

Sei Investments Co. grew its position in EastGroup Properties, Inc. (NYSE:EGP) by 88.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,795 shares of the real estate investment trust’s stock after purchasing an additional 93,468 shares during the period. Sei Investments Co.’s holdings in EastGroup Properties were worth $36,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 945 shares in the last quarter. Goldman Sachs Group Inc. raised its position in EastGroup Properties by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after buying an additional 41,538 shares during the last quarter. Jane Street Group LLC lifted its stake in EastGroup Properties by 309.8% in the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after acquiring an additional 12,003 shares in the last quarter. Focus Partners Wealth lifted its stake in EastGroup Properties by 2.2% in the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after acquiring an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 68 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of EGP opened at $212.66 on Monday. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 3.20 and a beta of 1.03. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $226.71. The company’s fifty day simple moving average is $206.60 and its 200 day simple moving average is $196.33. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, research analysts forecast that EastGroup Properties, Inc. will post 9.59 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is presently 108.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. BTIG Research raised their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. boosted their price objective on shares of EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday. Robert W. Baird increased their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Royal Bank Of Canada raised their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. Finally, KeyCorp lifted their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $218.16.

Insider Activity

In related 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 completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

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.