Vestcor Inc Decreases Position in EastGroup Properties, Inc. $EGP

Vestcor Inc lessened its stake in EastGroup Properties, Inc. (NYSE:EGP) by 31.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,142 shares of the real estate investment trust’s stock after selling 3,759 shares during the quarter. Vestcor Inc’s holdings in EastGroup Properties were worth $1,450,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Azzad Asset Management Inc. ADV increased its position in EastGroup Properties by 2.6% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 62 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of 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 valued at $613,000 after buying an additional 68 shares during the last quarter. Larson Financial Group LLC grew 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 worth $47,000 after acquiring an additional 69 shares during the period. Swiss Life Asset Management Ltd grew its stake in shares of EastGroup Properties by 3.0% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 73 shares during the period. Finally, Inscription Capital LLC increased its holdings in EastGroup Properties by 1.1% in the 4th quarter. Inscription Capital LLC now owns 6,991 shares of the real estate investment trust’s stock worth $1,245,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EGP. Cantor Fitzgerald restated an “overweight” rating and issued a $217.00 price objective on shares of EastGroup Properties in a research note on Monday, April 27th. Wells Fargo & Company lifted their target price on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. KeyCorp upped their price target on shares of EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Citigroup raised their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.07.

EastGroup Properties Price Performance

EGP stock opened at $198.35 on Monday. The firm has a 50 day simple moving average of $198.09 and a two-hundred day simple moving average of $189.42. The stock has a market cap of $10.66 billion, a PE ratio of 36.06, a P/E/G ratio of 2.98 and a beta of 1.04. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $207.72. 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 posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The firm had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, analysts predict that EastGroup Properties, Inc. will post 9.57 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio (DPR) is presently 112.73%.

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.