Corient Private Wealth LP Makes New Investment in EastGroup Properties, Inc. $EGP

Corient Private Wealth LP bought a new position in EastGroup Properties, Inc. (NYSE:EGP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 99,528 shares of the real estate investment trust’s stock, valued at approximately $20,158,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of EastGroup Properties during the second quarter worth about $1,553,186,000. Norges Bank bought a new stake in EastGroup Properties in the fourth quarter valued at about $281,054,000. Deutsche Bank AG acquired a new stake in EastGroup Properties during the second quarter valued at approximately $114,775,000. Bank of America Corp DE acquired a new stake in EastGroup Properties during the second quarter valued at approximately $94,505,000. Finally, Bank of New York Mellon Corp bought a new position in EastGroup Properties during the 2nd quarter worth approximately $93,282,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of NYSE EGP opened at $199.90 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $207.62 and its two-hundred day moving average price is $199.85. EastGroup Properties, Inc. has a 52-week low of $163.10 and a 52-week high of $226.71. The stock has a market capitalization of $10.75 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.91 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. The company had revenue of $193.33 million during the quarter, compared to analyst estimates of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, sell-side analysts forecast that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $1.75 per share. The ex-dividend date is Wednesday, September 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.5%. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.55. EastGroup Properties’s payout ratio is presently 108.77%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EGP shares. Truist Financial lifted their target price on EastGroup Properties from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Barclays upped their price target on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Morgan Stanley raised their price objective on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EastGroup Properties in a report on Tuesday, July 21st. Finally, BTIG Research boosted their target price on shares of EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus target price of $221.11.

Insider Buying and Selling

In related news, Director David Michael Fields sold 504 shares of the company’s 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 completion of the transaction, the director directly owned 3,531 shares in the company, valued at $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

EastGroup Properties 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.