EastGroup Properties, Inc. $EGP Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,413 shares of the real estate investment trust’s stock after purchasing an additional 6,717 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in EastGroup Properties were worth $6,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EGP. State of Wyoming acquired a new stake in shares of EastGroup Properties during the second quarter worth about $27,000. Parallel Advisors LLC boosted its position in EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 85 shares during the last quarter. Clearstead Advisors LLC increased its holdings in EastGroup Properties by 114.9% in the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 139 shares during the period. Larson Financial Group LLC increased its holdings in EastGroup Properties by 35.6% in the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 69 shares during the period. Finally, Global Retirement Partners LLC raised its position in EastGroup Properties by 414.5% during the 4th quarter. Global Retirement Partners LLC now owns 319 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 257 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $211.48 on Wednesday. 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 1 year low of $159.37 and a 1 year high of $216.98. The stock has a market capitalization of $11.37 billion, a P/E ratio of 38.45, a P/E/G ratio of 3.17 and a beta of 1.03. The company’s fifty day moving average price is $204.24 and its 200 day moving average price is $194.20.

EastGroup Properties (NYSE:EGP) last announced 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 return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. During the same quarter last year, the business posted $2.15 earnings per share. The firm’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. As a group, equities research analysts anticipate that EastGroup Properties, Inc. will post 9.59 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 2.9%. EastGroup Properties’s dividend payout ratio is currently 112.73%.

Wall Street Analyst Weigh In

EGP has been the subject of several research reports. BTIG Research lifted their price objective on shares of EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada increased their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Truist Financial raised their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Cantor Fitzgerald restated an “overweight” rating and set a $217.00 target price on shares of EastGroup Properties in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Twelve equities research 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.18.

Insider Buying and Selling

In other news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction 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 transaction, the director owned 3,531 shares of the company’s stock, valued at $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.