IFM Investors Pty Ltd Invests $1.61 Million in EastGroup Properties, Inc. $EGP

IFM Investors Pty Ltd acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 8,705 shares of the real estate investment trust’s stock, valued at approximately $1,611,000.

A number of other institutional investors have also recently made changes to their positions in EGP. State of Wyoming purchased a new position in EastGroup Properties during the 2nd quarter worth $27,000. MAI Capital Management raised its stake in EastGroup Properties by 83.7% in the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 82 shares during the last quarter. Parallel Advisors LLC raised its stake in 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 buying an additional 85 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in 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 in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in 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 worth $47,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

EGP has been the topic of several recent analyst reports. Royal Bank Of Canada upped their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a report on Tuesday, April 28th. Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. KeyCorp lifted their target price on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Evercore set a $195.00 target price on shares of EastGroup Properties in a research report on Friday, April 24th. Finally, Morgan Stanley upped their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Twelve 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, EastGroup Properties presently has an average rating of “Moderate Buy” and an average price target of $211.59.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $211.08 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $202.67 and a 200 day moving average price of $192.66. EastGroup Properties, Inc. has a 12-month low of $159.37 and a 12-month high of $211.34. The stock has a market cap of $11.35 billion, a P/E ratio of 38.38, a PEG ratio of 3.17 and a beta of 1.03.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.50. The business had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Sell-side analysts anticipate that EastGroup Properties, Inc. will post 9.58 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is presently 112.73%.

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 3,531 shares of the company’s stock, valued at $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. Insiders own 1.00% of the company’s stock.

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.