Daiwa Securities Group Inc. Sells 19,044 Shares of EastGroup Properties, Inc. $EGP

Daiwa Securities Group Inc. lowered its position in EastGroup Properties, Inc. (NYSE:EGP) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 692,493 shares of the real estate investment trust’s stock after selling 19,044 shares during the period. Daiwa Securities Group Inc.’s holdings in EastGroup Properties were worth $123,361,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of EastGroup Properties in the second quarter worth $27,000. MAI Capital Management increased its position 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 purchasing an additional 82 shares during the last quarter. Parallel Advisors LLC increased its position 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 purchasing an additional 85 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC increased its position 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 purchasing an additional 69 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EGP shares. Evercore set a $195.00 price target on shares of EastGroup Properties in a research report on Friday, April 24th. Citigroup upped their price target 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. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Wells Fargo & Company upped their price objective on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, 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. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.07.

EastGroup Properties Stock Performance

NYSE:EGP opened at $198.58 on Friday. The stock has a 50-day simple moving average of $197.79 and a two-hundred day simple moving average of $189.28. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $10.68 billion, a PE ratio of 36.11, a P/E/G ratio of 2.96 and a beta of 1.04.

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 (EPS) 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 business had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same quarter in the previous year, the company posted $2.15 earnings per share. EastGroup Properties’s revenue for the quarter was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Analysts forecast that EastGroup Properties, Inc. will post 9.57 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s payout ratio is currently 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.