7,436 Shares in EastGroup Properties, Inc. $EGP Acquired by Compass Wealth Management LLC

Compass Wealth Management LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, HoldingsChannel reports. The firm purchased 7,436 shares of the real estate investment trust’s stock, valued at approximately $1,506,000.

Several other hedge funds have also added to or reduced their stakes in EGP. BlackRock Inc. bought a new position in EastGroup Properties during the second quarter worth $1,553,186,000. Cohen & Steers Inc. lifted its stake in shares of EastGroup Properties by 7.0% during the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock worth $545,746,000 after buying an additional 200,617 shares during the last quarter. State Street Corp lifted its stake in shares of EastGroup Properties by 0.6% during the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after buying an additional 15,918 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of EastGroup Properties by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust’s stock worth $431,028,000 after buying an additional 24,910 shares during the period. Finally, Norges Bank bought a new stake in shares of EastGroup Properties during the 4th quarter worth about $281,054,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the 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 sale, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Performance

Shares of NYSE:EGP opened at $202.12 on Wednesday. EastGroup Properties, Inc. has a 12-month low of $162.75 and a 12-month high of $226.71. The company’s 50 day moving average price is $207.71 and its two-hundred day moving average price is $198.96. The firm has a market cap of $10.87 billion, a PE ratio of 35.46, a PEG ratio of 3.04 and a beta of 1.02. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results 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. The company had revenue of $193.33 million during the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.1%. EastGroup Properties’s payout ratio is currently 108.77%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EGP. BTIG Research increased their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Citigroup boosted their price objective on EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Royal Bank Of Canada upped their target price on EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. Morgan Stanley increased their target price on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Evercore set a $206.00 price target on EastGroup Properties in a report on Thursday, July 23rd. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and an average price target of $221.11.

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.