Quantinno Capital Management LP Purchases 140,166 Shares of EastGroup Properties, Inc. $EGP

Quantinno Capital Management LP grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 38.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 501,286 shares of the real estate investment trust’s stock after buying an additional 140,166 shares during the period. Quantinno Capital Management LP’s holdings in EastGroup Properties were worth $92,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cohen & Steers Inc. increased its holdings in EastGroup Properties by 7.0% in 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 acquiring an additional 200,617 shares during the last quarter. State Street Corp lifted its holdings in EastGroup Properties by 0.6% during the third quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock valued at $458,320,000 after purchasing an additional 15,918 shares during the last quarter. Principal Financial Group Inc. boosted its position in EastGroup Properties by 1.1% during the first quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust’s stock worth $431,028,000 after purchasing an additional 24,910 shares during the period. Norges Bank purchased a new position in shares of EastGroup Properties in the fourth quarter worth about $281,054,000. Finally, Boston Partners increased its stake in shares of EastGroup Properties by 2.1% in the third quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust’s stock worth $203,834,000 after purchasing an additional 25,055 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

Insider Buying and Selling at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $691,263.87. The trade was a 12.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

EastGroup Properties Price Performance

EGP stock opened at $210.67 on Tuesday. The firm has a 50 day moving average of $206.76 and a 200-day moving average of $196.54. The firm has a market capitalization of $11.33 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $226.71. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. The business had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm’s 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. As a group, sell-side analysts predict that EastGroup Properties, Inc. will post 9.59 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.55 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 2.9%. EastGroup Properties’s dividend payout ratio is 108.77%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler upped their price target on shares of EastGroup Properties from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Citigroup lifted their price objective on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. BTIG Research boosted their target price 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. Evercore set a $206.00 target price on EastGroup Properties in a research report on Thursday. Finally, KeyCorp raised their price target on EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $219.11.

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.