Montanaro Asset Management Ltd Purchases 10,600 Shares of EastGroup Properties, Inc. $EGP

Montanaro Asset Management Ltd raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,600 shares of the real estate investment trust’s stock after purchasing an additional 10,600 shares during the period. EastGroup Properties accounts for approximately 2.4% of Montanaro Asset Management Ltd’s holdings, making the stock its 20th biggest holding. Montanaro Asset Management Ltd owned about 0.09% of EastGroup Properties worth $8,479,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of EastGroup Properties during the second quarter worth approximately $27,000. MAI Capital Management grew its holdings in EastGroup Properties by 83.7% during the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 82 shares during the period. Parallel Advisors LLC grew its holdings in EastGroup Properties by 53.5% during the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 85 shares during the period. Clearstead Advisors LLC raised its position in shares of EastGroup Properties by 114.9% during the 4th 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 last quarter. Finally, Larson Financial Group LLC raised its position 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 valued at $47,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 0.1%

Shares of NYSE EGP opened at $200.08 on Friday. The company’s fifty day moving average is $200.96 and its 200-day moving average is $190.88. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 3.00 and a beta of 1.04. EastGroup Properties, Inc. has a twelve month low of $159.37 and a twelve month high of $207.72. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data 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 net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. During the same quarter in the prior year, the company earned $2.15 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 9.58 EPS for the current year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is 112.73%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EGP. Cantor Fitzgerald restated an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a research report on Monday, April 27th. Wells Fargo & Company upped their price objective on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, June 1st. KeyCorp increased their target price on EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Morgan Stanley raised their target price on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Finally, Truist Financial boosted their target price on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average price target of $210.12.

Insider Activity

In other news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the sale, the director owned 3,531 shares of the company’s stock, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company 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.