EastGroup Properties (NYSE:EGP) EVP Richard Reid Dunbar Sells 2,000 Shares

EastGroup Properties, Inc. (NYSE:EGP) EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the executive vice president directly owned 20,630 shares of the company’s stock, valued at $3,610,250. This represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

EastGroup Properties Stock Performance

Shares of NYSE EGP traded up $3.22 during trading on Friday, hitting $177.71. The company had a trading volume of 213,012 shares, compared to its average volume of 413,995. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $188.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. The firm has a market capitalization of $9.48 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 3.67 and a beta of 1.04. The stock has a 50 day simple moving average of $171.27 and a 200 day simple moving average of $168.42.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same period in the prior year, the company posted $2.13 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. As a group, analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $1.55 per share. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, September 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.5%. EastGroup Properties’s dividend payout ratio is presently 130.25%.

Analyst Ratings Changes

A number of research firms have commented on EGP. Cantor Fitzgerald raised their price target on EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 27th. BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of EastGroup Properties in a research note on Wednesday. Royal Bank Of Canada set a $183.00 target price on shares of EastGroup Properties and gave the stock a “sector perform” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley upped their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.33.

Institutional Trading of EastGroup Properties

Large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in shares of EastGroup Properties by 159.7% in the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. State of Wyoming bought a new position in EastGroup Properties during the second quarter valued at $27,000. Assetmark Inc. grew its stake in shares of EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 145 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of EastGroup Properties in the 3rd quarter worth $34,000. Finally, Mather Group LLC. bought a new stake in shares of EastGroup Properties in the 3rd quarter worth about $35,000. Institutional investors own 92.14% of the company’s stock.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.