Eventide Asset Management LLC Has $42.14 Million Holdings in EastGroup Properties, Inc. $EGP

Eventide Asset Management LLC lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 3.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 236,158 shares of the real estate investment trust’s stock after selling 8,162 shares during the quarter. Eventide Asset Management LLC’s holdings in EastGroup Properties were worth $42,139,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Entropy Technologies LP lifted its position in shares of EastGroup Properties by 19.3% during the 4th quarter. Entropy Technologies LP now owns 2,148 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 347 shares during the last quarter. Arax Advisory Partners acquired a new position in shares of EastGroup Properties during the 4th quarter worth about $77,000. Aptus Capital Advisors LLC lifted its position in shares of EastGroup Properties by 0.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 55,089 shares of the real estate investment trust’s stock worth $9,814,000 after purchasing an additional 240 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of EastGroup Properties during the 4th quarter worth about $158,000. Finally, UMB Bank n.a. lifted its position in shares of EastGroup Properties by 3.6% during the 4th quarter. UMB Bank n.a. now owns 2,149 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

EGP has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Truist Financial boosted their price target on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Morgan Stanley boosted their price target on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and an average price target of $208.07.

EastGroup Properties Trading Up 1.3%

EGP stock opened at $205.27 on Friday. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $207.72. The firm has a market cap of $11.04 billion, a P/E ratio of 37.32, a P/E/G ratio of 3.09 and a beta of 1.04. The business’s 50 day moving average is $199.79 and its 200-day moving average is $190.17. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same period in the prior year, the company posted $2.15 EPS. The company’s 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. Equities analysts anticipate that EastGroup Properties, Inc. will post 9.57 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

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

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.