Montanaro Asset Management Ltd Has $8.48 Million Position in EastGroup Properties, Inc. $EGP

Montanaro Asset Management Ltd increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 28.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,600 shares of the real estate investment trust’s stock after acquiring an additional 10,600 shares during the period. EastGroup Properties comprises approximately 2.4% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 20th largest holding. Montanaro Asset Management Ltd’s holdings in EastGroup Properties were worth $8,479,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EGP. State of Wyoming bought a new position in EastGroup Properties in the second quarter valued at approximately $27,000. MAI Capital Management raised its stake in shares of EastGroup Properties by 83.7% during the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Parallel Advisors LLC boosted its holdings 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 buying an additional 85 shares during the last quarter. Clearstead Advisors LLC boosted its holdings 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 buying an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of EastGroup Properties by 35.6% in the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 69 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of recent analyst reports. KeyCorp boosted their target price on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Raymond James Financial began coverage on shares of EastGroup Properties in a research report on Wednesday. They issued an “outperform” rating and a $241.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Truist Financial raised their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.12.

EastGroup Properties Stock Performance

EGP opened at $200.08 on Friday. The business has a fifty day simple moving average of $200.96 and a 200 day simple moving average of $190.88. The company has a market capitalization of $10.76 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 3.00 and a beta of 1.04. EastGroup Properties, Inc. has a 1 year low of $159.37 and a 1 year high of $207.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data 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 firm had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Research analysts expect that EastGroup Properties, Inc. will post 9.58 EPS for the current year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. EastGroup Properties’s dividend payout ratio is 112.73%.

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.