New Age Alpha Advisors LLC Sells 2,457 Shares of EastGroup Properties, Inc. $EGP

New Age Alpha Advisors LLC lessened its stake in EastGroup Properties, Inc. (NYSE:EGP) by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,112 shares of the real estate investment trust’s stock after selling 2,457 shares during the quarter. New Age Alpha Advisors LLC’s holdings in EastGroup Properties were worth $2,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Hantz Financial Services Inc. raised its holdings in shares of EastGroup Properties by 128.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,617 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 910 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $1,709,000. Global Retirement Partners LLC raised its holdings in shares of EastGroup Properties by 414.5% in the 4th quarter. Global Retirement Partners LLC now owns 319 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 257 shares during the period. Mach 1 Financial Group LLC bought a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $816,000. Finally, Covestor Ltd raised its holdings in shares of EastGroup Properties by 84.0% in the 4th quarter. Covestor Ltd now owns 1,043 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 476 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EGP shares. Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. KeyCorp lifted their price target on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Citigroup boosted their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Morgan Stanley boosted their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Finally, Robert W. Baird boosted their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.33.

EastGroup Properties Trading Up 0.9%

Shares of EGP stock opened at $207.06 on Wednesday. The company’s fifty day simple moving average is $195.92 and its two-hundred day simple moving average is $188.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. EastGroup Properties, Inc. has a 1 year low of $159.37 and a 1 year high of $207.72. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 3.09 and a beta of 1.05.

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 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 for the quarter, compared to analysts’ expectations of $193.84 million. During the same quarter in the previous year, the firm posted $2.15 EPS. The business’s revenue for the quarter 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, analysts anticipate that EastGroup Properties, Inc. will post 9.56 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm 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 dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 3.0%. EastGroup Properties’s payout ratio is presently 112.73%.

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.