EastGroup Properties, Inc. $EGP Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 23.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,330 shares of the real estate investment trust’s stock after selling 2,830 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in EastGroup Properties were worth $1,727,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of EGP. State of Wyoming acquired a new stake in EastGroup Properties during the second quarter worth about $27,000. Parallel Advisors LLC boosted its stake in EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 85 shares during the period. Clearstead Advisors LLC boosted its stake in EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 139 shares during the period. 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 purchasing an additional 69 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of EastGroup Properties by 414.5% during the fourth quarter. Global Retirement Partners LLC now owns 319 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 257 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the company’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 of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EGP. Cantor Fitzgerald reissued an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a report on Monday, April 27th. Truist Financial upped their price objective on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wells Fargo & Company increased their target price on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. BTIG Research raised their target price on EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, KeyCorp boosted their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Monday. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and an average price target of $212.18.

EastGroup Properties Trading Up 0.8%

Shares of EGP stock opened at $212.95 on Thursday. EastGroup Properties, Inc. has a 1 year low of $159.37 and a 1 year high of $216.98. The firm has a market capitalization of $11.45 billion, a PE ratio of 38.72, a price-to-earnings-growth ratio of 3.17 and a beta of 1.03. The stock has a fifty day moving average of $204.44 and a two-hundred day moving average of $194.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $193.84 million. During the same period last year, the company earned $2.15 earnings per share. The company’s quarterly 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, research analysts expect that EastGroup Properties, Inc. will post 9.59 EPS for the current year.

EastGroup Properties Dividend Announcement

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 of this dividend was Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 2.9%. EastGroup Properties’s dividend payout ratio (DPR) is presently 112.73%.

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.