Mach 1 Financial Group LLC Buys New Position in EastGroup Properties, Inc. $EGP

Mach 1 Financial Group LLC bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,578 shares of the real estate investment trust’s stock, valued at approximately $816,000.

Several other hedge funds also recently modified their holdings of EGP. State of Wyoming purchased a new position in shares of EastGroup Properties during the second quarter valued at approximately $27,000. MAI Capital Management boosted its holdings in EastGroup Properties by 83.7% during the third 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 last quarter. Parallel Advisors LLC boosted its holdings in EastGroup Properties by 53.5% during the third 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 last quarter. AlphaQuest LLC boosted its holdings in EastGroup Properties by 26,500.0% during the third quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 265 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings 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 purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Up 0.0%

EGP opened at $205.07 on Friday. 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 stock has a market cap of $11.02 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 3.09 and a beta of 1.05. EastGroup Properties, Inc. has a twelve month low of $159.37 and a twelve month high of $206.78. The company’s 50-day moving average price is $194.87 and its two-hundred day moving average price is $187.51.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. The firm had revenue of $190.26 million for the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities analysts expect that EastGroup Properties, Inc. will post 9.56 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend 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

Several research analysts recently weighed in on EGP shares. Robert W. Baird boosted their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $217.00 price objective on shares of EastGroup Properties in a research report on Monday, April 27th. KeyCorp boosted their price objective on EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings raised EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen raised EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus target price of $205.33.

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.