306,500 Shares in EastGroup Properties, Inc. $EGP Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 306,500 shares of the real estate investment trust’s stock, valued at approximately $62,075,000.

Other institutional investors also recently bought and sold shares of the company. State of Wyoming purchased a new stake in EastGroup Properties during the 2nd quarter worth approximately $27,000. Glen Eagle Advisors LLC lifted its position in shares of EastGroup Properties by 96.3% in the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 104 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of 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 acquiring an additional 85 shares in the last quarter. Avalon Trust Co purchased a new position in shares of EastGroup Properties in the first quarter valued at approximately $46,000. Finally, Clearstead Advisors LLC boosted its stake in shares of EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 139 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction dated 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 sale, the director owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

EastGroup Properties Price Performance

NYSE:EGP opened at $199.90 on Friday. EastGroup Properties, Inc. has a one year low of $163.10 and a one year high of $226.71. The stock has a market cap of $10.75 billion, a PE ratio of 35.07, a P/E/G ratio of 2.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day moving average price of $207.62 and a 200 day moving average price of $199.85.

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, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Equities research analysts expect that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.55. EastGroup Properties’s dividend payout ratio is presently 108.77%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EGP. Truist Financial boosted their price target on EastGroup Properties from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EastGroup Properties in a research note on Tuesday, July 21st. BTIG Research upped their target price on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Royal Bank Of Canada increased their target price on shares of EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley raised their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.11.

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.