EastGroup Properties, Inc. $EGP Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 30.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,470 shares of the real estate investment trust’s stock after selling 2,860 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in EastGroup Properties were worth $1,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cbre Investment Management Listed Real Assets LLC raised 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 purchasing an additional 34,515 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of EastGroup Properties by 22.1% during the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock worth $5,260,000 after buying an additional 5,341 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of EastGroup Properties by 22.7% in the 1st quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock valued at $11,493,000 after buying an additional 11,504 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at $3,753,000. Finally, Heartland Advisors Inc. grew its position in shares of EastGroup Properties by 13.7% in the 4th quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust’s stock valued at $7,607,000 after buying an additional 5,160 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $198.35 on Wednesday. The firm’s fifty day simple moving average is $205.50 and its 200-day simple moving average is $200.54. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.88 and a beta of 1.01. EastGroup Properties, Inc. has a 12 month low of $164.26 and a 12 month high of $226.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. EastGroup Properties’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, equities analysts forecast that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.55. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.5%. EastGroup Properties’s dividend payout ratio is currently 108.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial lifted their price target on shares of EastGroup Properties from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. KeyCorp upped their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Wells Fargo & Company raised their price objective on EastGroup Properties from $221.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Barclays lifted their target price on EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Citigroup boosted their target price on EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 24th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average price target of $221.47.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust that owns, develops, acquires and operates industrial properties. The company focuses primarily on business distribution space, including functional warehouse and light industrial facilities designed to support local and regional distribution, manufacturing and service businesses.

EastGroup concentrates its portfolio in major Sun Belt markets, with a presence in states including Arizona, California, Florida, Georgia, Nevada, North Carolina, Oklahoma, Tennessee and Texas.