Edgestream Partners L.P. Has $2.68 Million Stock Holdings in EastGroup Properties, Inc. $EGP

Edgestream Partners L.P. trimmed its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 64.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,457 shares of the real estate investment trust’s stock after selling 26,490 shares during the quarter. Edgestream Partners L.P.’s holdings in EastGroup Properties were worth $2,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amundi increased its holdings in shares of EastGroup Properties by 3.6% in the first quarter. Amundi now owns 29,393 shares of the real estate investment trust’s stock valued at $5,440,000 after purchasing an additional 1,030 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of EastGroup Properties by 3.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust’s stock worth $373,000 after buying an additional 75 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of EastGroup Properties by 22.7% during the 1st quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock worth $11,493,000 after buying an additional 11,504 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of EastGroup Properties by 2.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 272,324 shares of the real estate investment trust’s stock worth $50,404,000 after buying an additional 7,301 shares during the period. Finally, Glen Eagle Advisors LLC boosted its holdings in shares of EastGroup Properties by 96.3% during the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 104 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of research reports. 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. Barclays raised their price objective on shares of EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Cantor Fitzgerald restated an “overweight” rating and set a $235.00 price objective on shares of EastGroup Properties in a report on Monday, July 27th. KeyCorp upped their target price on EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company increased their target price on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.47.

Insider Activity

In other news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

EastGroup Properties Trading Down 0.3%

Shares of EastGroup Properties stock opened at $209.05 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a 50-day moving average of $207.15 and a 200-day moving average of $197.17. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $226.71. The stock has a market cap of $11.24 billion, a PE ratio of 36.68, a PEG ratio of 3.13 and a beta of 1.03.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The business had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same period last year, the firm earned $2.21 earnings per share. EastGroup Properties’s revenue for the quarter was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, sell-side analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is presently 108.77%.

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.