WCM Investment Management LLC Decreases Holdings in EastGroup Properties, Inc. $EGP

WCM Investment Management LLC trimmed its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,116 shares of the real estate investment trust’s stock after selling 4,226 shares during the period. WCM Investment Management LLC’s holdings in EastGroup Properties were worth $20,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EGP. Dimensional Fund Advisors LP grew its position in EastGroup Properties by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 799,996 shares of the real estate investment trust’s stock valued at $148,070,000 after buying an additional 26,727 shares during the period. Parallel Advisors LLC raised its position in EastGroup Properties by 42.0% in the first quarter. Parallel Advisors LLC now owns 990 shares of the real estate investment trust’s stock worth $183,000 after acquiring an additional 293 shares during the period. Swiss National Bank boosted its stake in EastGroup Properties by 0.3% in the first quarter. Swiss National Bank now owns 105,487 shares of the real estate investment trust’s stock valued at $19,525,000 after acquiring an additional 300 shares during the last quarter. Heartland Advisors Inc. boosted its stake in EastGroup Properties by 0.4% in the first quarter. Heartland Advisors Inc. now owns 42,887 shares of the real estate investment trust’s stock valued at $7,938,000 after acquiring an additional 182 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of EastGroup Properties by 2.9% during the 1st quarter. California Public Employees Retirement System now owns 93,961 shares of the real estate investment trust’s stock valued at $17,391,000 after acquiring an additional 2,611 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. The trade was a 12.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

EGP has been the subject of a number of recent research reports. Evercore set a $195.00 target price on EastGroup Properties in a research report on Friday, April 24th. BTIG Research increased their target price on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Robert W. Baird lifted their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Raymond James Financial began coverage on shares of EastGroup Properties in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target on the stock. Finally, Morgan Stanley raised 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. Twelve research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $213.06.

EastGroup Properties Price Performance

NYSE:EGP opened at $222.25 on Monday. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $226.71. The stock has a fifty day moving average of $205.17 and a 200 day moving average of $195.01. 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 $11.95 billion, a price-to-earnings ratio of 40.41, a P/E/G ratio of 3.33 and a beta of 1.03.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, research analysts expect that EastGroup Properties, Inc. will post 9.59 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.55 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 2.8%. EastGroup Properties’s dividend payout ratio is 112.73%.

About EastGroup Properties

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.