FJ Capital Management LLC Buys Shares of 4,789 EastGroup Properties, Inc. $EGP

FJ Capital Management LLC purchased a new position in EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,789 shares of the real estate investment trust’s stock, valued at approximately $853,000.

Other hedge funds have also recently made changes to their positions in the company. Aptus Capital Advisors LLC boosted its stake in shares of EastGroup Properties by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock worth $9,284,000 after buying an additional 7,212 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in EastGroup Properties by 5.1% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock valued at $126,677,000 after acquiring an additional 34,515 shares during the last quarter. Citigroup Inc. increased its position in EastGroup Properties by 38.3% during the third quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock valued at $10,403,000 after acquiring an additional 17,009 shares during the last quarter. DigitalBridge Group Inc. bought a new position in EastGroup Properties in the third quarter valued at about $1,574,000. Finally, Lighthouse Investment Partners LLC bought a new position in EastGroup Properties in the third quarter valued at about $8,151,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Robert W. Baird upped their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Cantor Fitzgerald restated an “overweight” rating and set a $217.00 target price on shares of EastGroup Properties in a research report on Monday, April 27th. Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Royal Bank Of Canada increased their price target on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Finally, KeyCorp lifted their price target on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.07.

EastGroup Properties Price Performance

NYSE EGP opened at $205.27 on Friday. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $207.72. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 3.09 and a beta of 1.04. The company’s 50 day moving average is $199.79 and its two-hundred day moving average is $190.17. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

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

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s dividend payout ratio (DPR) is currently 112.73%.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% 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.