Sterling Capital Management LLC Has $3.39 Million Stock Holdings in EastGroup Properties, Inc. $EGP

Sterling Capital Management LLC trimmed its position in EastGroup Properties, Inc. (NYSE:EGP) by 11.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,317 shares of the real estate investment trust’s stock after selling 2,463 shares during the quarter. Sterling Capital Management LLC’s holdings in EastGroup Properties were worth $3,390,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming bought a new position in shares of EastGroup Properties in the 2nd quarter valued at $27,000. MAI Capital Management lifted its position in shares of 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 buying an additional 82 shares during the last quarter. Parallel Advisors LLC grew its position in EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 85 shares during the last quarter. Clearstead Advisors LLC grew its position in EastGroup Properties by 114.9% in the fourth 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 stake in EastGroup Properties by 35.6% during 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 in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Up 1.1%

Shares of EGP opened at $206.99 on Friday. The stock’s 50-day moving average price is $202.02 and its two-hundred day moving average price is $191.75. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $207.72. The company has a market capitalization of $11.13 billion, a PE ratio of 37.63, a PEG ratio of 3.11 and a beta of 1.04. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The company 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 firm posted $2.15 earnings per share. The business’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. On average, analysts anticipate that EastGroup Properties, Inc. will post 9.58 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is currently 112.73%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EGP. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Royal Bank Of Canada upped their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Robert W. Baird increased their price objective on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Morgan Stanley increased their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.12.

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.