Vestcor Inc Sells 3,759 Shares of EastGroup Properties, Inc. $EGP

Vestcor Inc lowered its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 31.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,142 shares of the real estate investment trust’s stock after selling 3,759 shares during the quarter. Vestcor Inc’s holdings in EastGroup Properties were worth $1,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new stake in shares of EastGroup Properties during the second quarter worth about $27,000. MAI Capital Management lifted 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 valued at $31,000 after acquiring an additional 82 shares in the last quarter. Parallel Advisors LLC lifted 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 valued at $41,000 after acquiring an additional 85 shares in the last quarter. AlphaQuest LLC boosted its stake in EastGroup Properties by 26,500.0% during the 3rd quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 265 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

EGP stock opened at $198.35 on Monday. 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 market cap of $10.66 billion, a PE ratio of 36.06, a P/E/G ratio of 2.98 and a beta of 1.04. The business has a 50 day moving average of $198.09 and a 200-day moving average of $189.42. 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, topping analysts’ consensus estimates of $1.27 by $0.50. The business had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.EastGroup Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, sell-side analysts expect that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s payout ratio is 112.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued 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 report on Tuesday, April 28th. Wall Street Zen raised EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Evercore set a $195.00 target price on shares of EastGroup Properties in a research note on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.07.

EastGroup Properties Company 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.