1,577,716 Shares in EastGroup Properties, Inc. $EGP Acquired by Norges Bank

Norges Bank bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,577,716 shares of the real estate investment trust’s stock, valued at approximately $281,054,000.

A number of other large investors have also bought and sold shares of EGP. Azzad Asset Management Inc. ADV grew its stake in shares of EastGroup Properties by 2.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 62 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 68 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of EastGroup Properties by 35.6% during the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 69 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of EastGroup Properties by 3.0% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 73 shares in the last quarter. Finally, Inscription Capital LLC grew its stake in shares of EastGroup Properties by 1.1% during the 4th quarter. Inscription Capital LLC now owns 6,991 shares of the real estate investment trust’s stock worth $1,245,000 after acquiring an additional 76 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EGP has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. Royal Bank Of Canada increased their price target on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 28th. Truist Financial increased their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Evercore set a $195.00 target price on shares of EastGroup Properties in a report on Friday, April 24th. Finally, KeyCorp lifted their price objective on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.07.

EastGroup Properties Stock Up 0.4%

Shares of NYSE EGP opened at $195.60 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.93 and a beta of 1.04. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $207.72. The stock has a 50-day moving average price of $196.96 and a two-hundred day moving average price of $188.86.

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

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is currently 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.