EastGroup Properties, Inc. $EGP Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its position in EastGroup Properties, Inc. (NYSE:EGP) by 23.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,330 shares of the real estate investment trust’s stock after selling 2,830 shares during the period. Sequoia Financial Advisors LLC’s holdings in EastGroup Properties were worth $1,727,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Renaissance Group LLC boosted its stake in EastGroup Properties by 3.9% during the fourth quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 54 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in EastGroup Properties by 4.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $281,000 after acquiring an additional 60 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in EastGroup Properties by 2.6% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 62 shares in the last quarter. Cetera Investment Advisers lifted its holdings in EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 68 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in EastGroup Properties by 35.6% in the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Activity

In other 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 value 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 sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

EGP has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Royal Bank Of Canada raised their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Raymond James Financial assumed coverage on EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target on the stock. Finally, KeyCorp increased their price objective on EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.18.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $212.95 on Thursday. The firm’s 50 day simple moving average is $204.44 and its 200-day simple moving average is $194.42. The company has a market cap of $11.45 billion, a P/E ratio of 38.72, a price-to-earnings-growth ratio of 3.17 and a beta of 1.03. 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, Inc. has a fifty-two week low of $159.37 and a fifty-two week high of $216.98.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. During the same quarter in the prior year, the firm earned $2.15 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 9.59 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. EastGroup Properties’s 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.