Strs Ohio Purchases 4,798 Shares of EastGroup Properties, Inc. $EGP

Strs Ohio boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 3.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 142,395 shares of the real estate investment trust’s stock after purchasing an additional 4,798 shares during the period. Strs Ohio’s holdings in EastGroup Properties were worth $26,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EGP. State of Wyoming purchased a new stake in shares of EastGroup Properties in the 2nd quarter valued at $27,000. MAI Capital Management raised its position in EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 82 shares during the period. Parallel Advisors LLC raised its position in EastGroup Properties by 53.5% in the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 85 shares during the period. Clearstead Advisors LLC lifted its stake 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 worth $46,000 after purchasing an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in 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 purchasing an additional 69 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% 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 owned by insiders.

EastGroup Properties Trading Down 0.1%

Shares of EGP opened at $211.08 on Friday. The stock has a market capitalization of $11.35 billion, a P/E ratio of 38.38, a PEG ratio of 3.17 and a beta of 1.03. 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 firm has a fifty day simple moving average of $202.67 and a two-hundred day simple moving average of $192.66. EastGroup Properties, Inc. has a twelve month low of $159.37 and a twelve month high of $211.34.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data 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 firm 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 company earned $2.15 earnings per share. The company’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. On average, research analysts anticipate that EastGroup Properties, Inc. will post 9.58 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 paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 2.9%. EastGroup Properties’s dividend payout ratio (DPR) is presently 112.73%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EGP. Evercore set a $195.00 price objective on EastGroup Properties in a research note on Friday, April 24th. BTIG Research boosted their target price on EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $217.00 target price on shares of EastGroup Properties in a research note on Monday, April 27th. Morgan Stanley increased their target price on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada lifted their price target on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus target price of $211.59.

About EastGroup Properties

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.