GW&K Investment Management LLC Has $51.25 Million Stake in EastGroup Properties, Inc. $EGP

GW&K Investment Management LLC cut its stake in EastGroup Properties, Inc. (NYSE:EGP) by 4.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 287,705 shares of the real estate investment trust’s stock after selling 12,380 shares during the quarter. GW&K Investment Management LLC’s holdings in EastGroup Properties were worth $51,253,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in EGP. State of Wyoming acquired a new stake in shares of EastGroup Properties in the 2nd quarter valued at about $27,000. MAI Capital Management boosted its position in shares of EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 82 shares during the period. Parallel Advisors LLC boosted its position in shares of EastGroup Properties by 53.5% during the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 85 shares during the period. AlphaQuest LLC grew its holdings in shares of EastGroup Properties by 26,500.0% during the third quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 265 shares in the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of EastGroup Properties by 114.9% during the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 139 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EGP shares. KeyCorp boosted 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 price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $217.00 price objective on shares of EastGroup Properties in a research report on Monday, April 27th. Robert W. Baird increased their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada raised their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target of $208.07.

EastGroup Properties Stock Up 2.6%

Shares of EGP stock opened at $202.61 on Wednesday. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 2.97 and a beta of 1.04. The firm’s 50-day moving average is $198.73 and its 200-day moving average is $189.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The business 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%.EastGroup Properties’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Sell-side analysts predict that EastGroup Properties, Inc. will post 9.57 EPS for the current year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 dividend yield of 3.1%. EastGroup Properties’s payout ratio is presently 112.73%.

Insiders Place Their Bets

In related news, Director David Michael Fields sold 504 shares of the 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 sale, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Company 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.