EastGroup Properties (NYSE:EGP) Director David Michael Fields Sells 504 Shares

EastGroup Properties, Inc. (NYSE:EGP) Director David Michael Fields sold 504 shares of the company’s 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 sale, the director owned 3,531 shares of the company’s stock, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

EastGroup Properties Trading Down 0.4%

Shares of NYSE:EGP opened at $197.36 on Tuesday. 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 stock’s 50-day moving average is $198.35 and its 200-day moving average is $189.55. The company has a market cap of $10.61 billion, a P/E ratio of 35.88, a P/E/G ratio of 2.98 and a beta of 1.04. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.50. The firm had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm 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 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is currently 112.73%.

Analyst Ratings Changes

Several equities analysts recently commented on EGP shares. Wells Fargo & Company upped their target price on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Piper Sandler raised their price target on shares of EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Citigroup increased their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Truist Financial lifted their target price on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and an average price target of $208.07.

Institutional Investors Weigh In On EastGroup Properties

A number of institutional investors have recently bought and sold shares of EGP. Bank of America Corp DE increased its holdings in EastGroup Properties by 3.8% in the 1st quarter. Bank of America Corp DE now owns 431,278 shares of the real estate investment trust’s stock valued at $79,825,000 after buying an additional 15,722 shares during the period. Amundi lifted its holdings in shares of EastGroup Properties by 3.6% during the 1st quarter. Amundi now owns 29,393 shares of the real estate investment trust’s stock worth $5,440,000 after acquiring an additional 1,030 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of EastGroup Properties by 3.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust’s stock valued at $373,000 after acquiring an additional 75 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of EastGroup Properties by 22.7% during the 1st quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock valued at $11,493,000 after acquiring an additional 11,504 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in EastGroup Properties by 2.8% in the first quarter. The Manufacturers Life Insurance Company now owns 272,324 shares of the real estate investment trust’s stock valued at $50,404,000 after acquiring an additional 7,301 shares during the period. Institutional investors and hedge funds 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.