Jefferies Financial Group Inc. Buys Shares of 9,594 EastGroup Properties, Inc. $EGP

Jefferies Financial Group Inc. bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 9,594 shares of the real estate investment trust’s stock, valued at approximately $1,709,000.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of EastGroup Properties by 43.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after purchasing an additional 602,253 shares during the period. Centersquare Investment Management LLC raised its holdings in shares of EastGroup Properties by 619.9% in the third quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust’s stock valued at $50,324,000 after buying an additional 256,019 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of EastGroup Properties by 296.6% in the third quarter. Alyeska Investment Group L.P. now owns 285,476 shares of the real estate investment trust’s stock valued at $48,320,000 after buying an additional 213,493 shares during the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of EastGroup Properties by 199.8% in the third quarter. Hudson Bay Capital Management LP now owns 207,372 shares of the real estate investment trust’s stock valued at $35,100,000 after purchasing an additional 138,193 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in EastGroup Properties by 14,736.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 126,558 shares of the real estate investment trust’s stock valued at $22,545,000 after acquiring an additional 125,705 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Down 0.5%

Shares of NYSE:EGP opened at $205.89 on Thursday. The firm has a market cap of $11.07 billion, a P/E ratio of 37.43, a P/E/G ratio of 3.11 and a beta of 1.05. The business has a fifty day simple moving average of $196.23 and a 200 day simple moving average of $188.38. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 12-month low of $159.37 and a 12-month high of $207.72.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 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 prior year, the firm posted $2.15 earnings per share. The business’s quarterly revenue 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. Analysts predict that EastGroup Properties, Inc. will post 9.56 earnings per share for the current year.

EastGroup Properties Announces Dividend

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

Analyst Ratings Changes

EGP has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $217.00 target price on shares of EastGroup Properties in a report on Monday, April 27th. Robert W. Baird upped their price target on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada raised their price objective on EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. Finally, Citigroup increased their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.40.

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.