Corient Private Wealth LP Invests $20.16 Million in EastGroup Properties, Inc. $EGP

Corient Private Wealth LP acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 99,528 shares of the real estate investment trust’s stock, valued at approximately $20,158,000. Corient Private Wealth LP owned approximately 0.19% of EastGroup Properties at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EGP. State of Wyoming acquired a new position in EastGroup Properties during the second quarter valued at approximately $27,000. Glen Eagle Advisors LLC increased 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 worth $39,000 after acquiring an additional 104 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of 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 during the period. Clearstead Advisors LLC raised its stake in shares of EastGroup Properties by 114.9% in the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 139 shares during the period. Finally, Avalon Trust Co acquired a new position in shares of EastGroup Properties during the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the sale, the director directly owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $199.90 on Friday. EastGroup Properties, Inc. has a 12-month low of $163.10 and a 12-month high of $226.71. 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 company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 2.91 and a beta of 1.02. The firm’s fifty day moving average price is $207.62 and its 200 day moving average price is $199.85.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. During the same period in the prior year, the company posted $2.21 EPS. The firm’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. On average, research analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.75 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, September 30th. This represents a $7.00 dividend on an annualized basis and a yield of 3.5%. EastGroup Properties’s payout ratio is 108.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley upped 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 report on Wednesday, May 27th. Evercore set a $206.00 price objective on EastGroup Properties in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EastGroup Properties in a research report on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on EastGroup Properties from $210.00 to $231.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their target price on EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. Twelve equities 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.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus 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.