Sei Investments Co. Has $36.80 Million Stock Position in EastGroup Properties, Inc. $EGP

Sei Investments Co. lifted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 88.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,795 shares of the real estate investment trust’s stock after purchasing an additional 93,468 shares during the period. Sei Investments Co. owned 0.37% of EastGroup Properties worth $36,796,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EGP. Jones Financial Companies Lllp increased its holdings in EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 945 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after buying an additional 41,538 shares during the last quarter. Jane Street Group LLC boosted its holdings in EastGroup Properties by 309.8% during the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after buying an additional 12,003 shares during the last quarter. Focus Partners Wealth grew its position in shares of EastGroup Properties by 2.2% during the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after buying an additional 68 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

EastGroup Properties Trading Down 0.2%

NYSE EGP opened at $212.66 on Monday. The firm has a market cap of $11.43 billion, a P/E ratio of 37.31, a P/E/G ratio of 3.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. The stock’s 50-day moving average is $206.60 and its 200-day moving average is $196.33. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $226.71.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business had revenue of $193.33 million for the quarter, compared to analysts’ expectations of $193.61 million. During the same quarter in the previous year, the business posted $2.21 EPS. EastGroup Properties’s revenue for the quarter was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Sell-side analysts anticipate that EastGroup Properties, Inc. will post 9.59 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 2.9%. EastGroup Properties’s payout ratio is presently 108.77%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays increased their price target on shares of EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Truist Financial boosted their price objective on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Piper Sandler upped their target price on shares of EastGroup Properties from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Raymond James Financial began coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 target price on the stock. Finally, Royal Bank Of Canada lifted their price target on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.16.

About EastGroup Properties

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.