Sound Financial Strategies Group LLC Takes $2.54 Million Position in EastGroup Properties, Inc. $EGP

Sound Financial Strategies Group LLC acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,551 shares of the real estate investment trust’s stock, valued at approximately $2,542,000. EastGroup Properties comprises about 1.6% of Sound Financial Strategies Group LLC’s holdings, making the stock its 13th biggest holding.

Other large investors have also recently modified their holdings of the company. Renaissance Group LLC boosted its holdings 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 acquiring an additional 54 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in EastGroup Properties by 4.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 60 shares during the period. Cetera Investment Advisers increased its stake in EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 68 shares during the period. Larson Financial Group LLC lifted its position in EastGroup Properties by 35.6% in the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 69 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its position in EastGroup Properties by 3.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Insider Buying and Selling at EastGroup Properties

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 value of $98,668.08. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EGP shares. Cantor Fitzgerald reissued an “overweight” rating and set a $235.00 price objective on shares of EastGroup Properties in a research note on Monday, July 27th. Evercore set a $206.00 target price on shares of EastGroup Properties in a research note on Thursday, July 23rd. Barclays upped their price target on shares of EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. KeyCorp increased their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Robert W. Baird set a $221.00 price target on shares of EastGroup Properties in a report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $221.11.

EastGroup Properties Stock Performance

Shares of EGP opened at $202.12 on Wednesday. The company has a 50-day simple moving average of $207.71 and a two-hundred day simple moving average of $198.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $10.87 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02. EastGroup Properties, Inc. has a one year low of $162.75 and a one year high of $226.71.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm 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 business earned $2.21 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, analysts anticipate that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 3.1%. EastGroup Properties’s payout ratio is currently 108.77%.

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.