Cohen & Steers Inc. Boosts Stock Position in EastGroup Properties, Inc. $EGP

Cohen & Steers Inc. grew its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 7.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,063,576 shares of the real estate investment trust’s stock after acquiring an additional 200,617 shares during the quarter. EastGroup Properties accounts for 1.0% of Cohen & Steers Inc.’s holdings, making the stock its 29th largest holding. Cohen & Steers Inc. owned 0.06% of EastGroup Properties worth $545,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming acquired a new stake in shares of EastGroup Properties in the second quarter worth approximately $27,000. MAI Capital Management boosted its stake in shares of EastGroup Properties by 83.7% in the third 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 last quarter. Parallel Advisors LLC boosted its stake in shares of EastGroup Properties by 53.5% in the third 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 last quarter. Clearstead Advisors LLC boosted its stake in shares of EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of EastGroup Properties by 35.6% in the fourth 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 during the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 1.3%

Shares of NYSE:EGP opened at $205.27 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $199.79 and a two-hundred day moving average of $190.17. The stock has a market cap of $11.04 billion, a P/E ratio of 37.32, a PEG ratio of 3.05 and a beta of 1.04. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72.

EastGroup Properties (NYSE:EGP) last issued its earnings results 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. The company had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, research analysts expect that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business also recently announced 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 yield of 3.0%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is presently 112.73%.

Analyst Ratings Changes

A number of analysts have recently issued reports on EGP shares. Wall Street Zen raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Truist Financial lifted their price target on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings raised EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Evercore set a $195.00 price target on EastGroup Properties in a research note on Friday, April 24th. Finally, Morgan Stanley lifted their price target on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and an average price target of $208.07.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was 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 in the company, valued at $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by 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.