Squarepoint Ops LLC Buys 24,419 Shares of EastGroup Properties, Inc. $EGP

Squarepoint Ops LLC grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 415.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,301 shares of the real estate investment trust’s stock after acquiring an additional 24,419 shares during the period. Squarepoint Ops LLC’s holdings in EastGroup Properties were worth $6,137,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EGP. Jones Financial Companies Lllp increased its stake 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 purchasing an additional 945 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 41,538 shares during the period. Jane Street Group LLC grew its holdings 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 buying an additional 12,003 shares in the last quarter. Focus Partners Wealth grew its holdings 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 buying an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 68 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $198.09 on Friday. The business has a fifty day moving average price of $206.11 and a two-hundred day moving average price of $200.38. The stock has a market capitalization of $10.65 billion, a PE ratio of 34.75, a P/E/G ratio of 2.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. EastGroup Properties, Inc. has a fifty-two week low of $164.26 and a fifty-two week high of $226.71.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $193.33 million for the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.EastGroup Properties’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, equities analysts predict that EastGroup Properties, Inc. will post 9.6 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.00 annualized dividend and a yield of 3.5%. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.55. EastGroup Properties’s payout ratio is 122.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EGP shares. KeyCorp lifted their target price on EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Piper Sandler reaffirmed an “overweight” rating on shares of EastGroup Properties in a research report on Thursday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $235.00 price objective on shares of EastGroup Properties in a research note on Monday, July 27th. Wells Fargo & Company lifted their price objective on shares of EastGroup Properties from $221.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Finally, Citigroup boosted their price objective on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 24th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.68.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust that owns, develops, acquires and operates industrial properties. The company focuses primarily on business distribution space, including functional warehouse and light industrial facilities designed to support local and regional distribution, manufacturing and service businesses.

EastGroup concentrates its portfolio in major Sun Belt markets, with a presence in states including Arizona, California, Florida, Georgia, Nevada, North Carolina, Oklahoma, Tennessee and Texas.