Allen Investment Management LLC Acquires New Stake in EastGroup Properties, Inc. $EGP

Allen Investment Management LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, HoldingsChannel.com reports. The firm bought 3,325 shares of the real estate investment trust’s stock, valued at approximately $592,000.

Other institutional investors have also added to or reduced their stakes in the company. Aptus Capital Advisors LLC grew its position in EastGroup Properties by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock worth $9,284,000 after acquiring an additional 7,212 shares in the last quarter. Citigroup Inc. raised its position in EastGroup Properties by 38.3% during the third quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock valued at $10,403,000 after purchasing an additional 17,009 shares in the last quarter. DigitalBridge Group Inc. purchased a new stake in EastGroup Properties during the third quarter valued at about $1,574,000. Channing Capital Management LLC lifted its stake in EastGroup Properties by 14.5% during the third quarter. Channing Capital Management LLC now owns 55,184 shares of the real estate investment trust’s stock worth $9,340,000 after purchasing an additional 7,004 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of EastGroup Properties in the 3rd quarter worth about $8,151,000. 92.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EGP. Cantor Fitzgerald reiterated an “overweight” rating and set a $217.00 price objective on shares of EastGroup Properties in a research report on Monday, April 27th. Piper Sandler upped their target price on EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Wells Fargo & Company increased their price target on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday. 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 note on Tuesday, April 28th. Finally, Robert W. Baird boosted their price objective on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.07.

EastGroup Properties Stock Up 0.4%

Shares of EastGroup Properties stock opened at $195.60 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 52-week low of $159.37 and a 52-week high of $207.72. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.93 and a beta of 1.04. The company’s 50 day moving average price is $196.96 and its 200-day moving average price is $188.86.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. The company had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities research analysts forecast that EastGroup Properties, Inc. will post 9.57 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is currently 112.73%.

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.