SG Americas Securities LLC Buys 20,899 Shares of EastGroup Properties, Inc. $EGP

SG Americas Securities LLC raised its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1,115.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,773 shares of the real estate investment trust’s stock after acquiring an additional 20,899 shares during the period. SG Americas Securities LLC’s holdings in EastGroup Properties were worth $3,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new position in EastGroup Properties in the 1st quarter valued at $226,000. Avantax Advisory Services Inc. boosted its position in shares of EastGroup Properties by 24.0% in the first quarter. Avantax Advisory Services Inc. now owns 11,247 shares of the real estate investment trust’s stock valued at $1,981,000 after acquiring an additional 2,178 shares during the period. HB Wealth Management LLC grew its stake in shares of EastGroup Properties by 38.0% in the second quarter. HB Wealth Management LLC now owns 2,338 shares of the real estate investment trust’s stock valued at $391,000 after acquiring an additional 644 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in EastGroup Properties by 1,058.6% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock worth $109,443,000 after acquiring an additional 567,678 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in EastGroup Properties by 3.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,574 shares of the real estate investment trust’s stock worth $2,268,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EGP shares. Industrial Alliance Securities set a $200.00 target price on shares of EastGroup Properties in a research report on Monday, October 27th. Robert W. Baird increased their price target on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Truist Financial lifted their price objective on EastGroup Properties from $177.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Cantor Fitzgerald upped their target price on EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Royal Bank Of Canada set a $183.00 price target on EastGroup Properties and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $190.80.

EastGroup Properties Trading Up 1.3%

Shares of EGP stock opened at $179.93 on Wednesday. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $188.89. The stock’s fifty day moving average price is $172.97 and its two-hundred day moving average price is $169.39. 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 company has a market cap of $9.60 billion, a PE ratio of 37.80, a P/E/G ratio of 3.67 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share 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 business had revenue of $182.14 million for the quarter, compared to the consensus estimate of $181.88 million. During the same quarter in the prior year, the company earned $2.13 earnings per share. EastGroup Properties’s quarterly 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. Equities analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $1.55 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.4%. EastGroup Properties’s payout ratio is presently 130.25%.

Insider Transactions at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president owned 20,630 shares of the company’s stock, valued at $3,610,250. This represents a 8.84% decrease in their position. 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 currently owned by corporate insiders.

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.