15,400 Shares in EastGroup Properties, Inc. $EGP Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 15,400 shares of the real estate investment trust’s stock, valued at approximately $2,850,000.

A number of other institutional investors have also made changes to their positions in EGP. Cbre Investment Management Listed Real Assets LLC boosted its holdings in EastGroup Properties by 5.1% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock worth $126,677,000 after buying an additional 34,515 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in shares of EastGroup Properties by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock valued at $9,284,000 after acquiring an additional 7,212 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of EastGroup Properties by 22.1% in the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock valued at $5,260,000 after acquiring an additional 5,341 shares during the period. Citigroup Inc. raised its position in shares of EastGroup Properties by 38.3% in the 3rd quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock valued at $10,403,000 after acquiring an additional 17,009 shares during the period. Finally, DigitalBridge Group Inc. bought a new position in EastGroup Properties during the 3rd quarter worth approximately $1,574,000. 92.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director David Michael Fields sold 504 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, the director directly owned 3,531 shares of the company’s stock, valued at $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Down 0.1%

Shares of EastGroup Properties stock opened at $206.99 on Monday. The firm has a market cap of $11.13 billion, a PE ratio of 37.63, a P/E/G ratio of 3.11 and a beta of 1.04. The business’s 50 day simple moving average is $202.02 and its 200 day simple moving average is $191.84. 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, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data 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. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. During the same period in the prior year, the business posted $2.15 EPS. The company’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 predict that EastGroup Properties, Inc. will post 9.58 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a report on Tuesday, April 28th. Evercore set a $195.00 target price on EastGroup Properties in a report on Friday, April 24th. Wall Street Zen raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a report on Monday, April 27th. Finally, Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.12.

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.