Public Employees Retirement System of Ohio Lowers Holdings in EastGroup Properties, Inc. $EGP

Public Employees Retirement System of Ohio decreased its position in EastGroup Properties, Inc. (NYSE:EGP) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,568 shares of the real estate investment trust’s stock after selling 12,423 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.21% of EastGroup Properties worth $20,650,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Renaissance Group LLC increased its stake in EastGroup Properties by 3.9% during the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 54 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of EastGroup Properties by 4.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 60 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in shares of EastGroup Properties by 2.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 62 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of EastGroup Properties by 1.9% during the second 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. Finally, Larson Financial Group LLC grew its holdings in shares of EastGroup Properties by 35.6% during the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 69 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EGP shares. Raymond James Financial assumed coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $217.00 target price on shares of EastGroup Properties in a research note on Monday, April 27th. Truist Financial lifted their target price on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. BTIG Research lifted their target price on EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, KeyCorp boosted their price target on EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus price target of $218.16.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $212.66 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $206.60 and a 200-day moving average price of $196.22. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $226.71. The firm has a market capitalization of $11.43 billion, a PE ratio of 37.31, a P/E/G ratio of 3.20 and a beta of 1.03.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, equities research analysts expect that EastGroup Properties, Inc. will post 9.59 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.55 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 2.9%. EastGroup Properties’s payout ratio is currently 108.77%.

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 stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director directly owned 3,531 shares of the company’s stock, valued at $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

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.