Legal & General Group Plc Boosts Stake in EastGroup Properties, Inc. $EGP

Legal & General Group Plc grew its stake in EastGroup Properties, Inc. (NYSE:EGP) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 315,826 shares of the real estate investment trust’s stock after buying an additional 36,479 shares during the period. Legal & General Group Plc’s holdings in EastGroup Properties were worth $56,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Azzad Asset Management Inc. ADV raised its holdings in shares of 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 buying an additional 62 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of EastGroup Properties by 1.9% in the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after buying an additional 68 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of 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 buying an additional 69 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of EastGroup Properties by 3.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 73 shares during the last quarter. Finally, Inscription Capital LLC increased its stake in shares of EastGroup Properties by 1.1% in the fourth quarter. Inscription Capital LLC now owns 6,991 shares of the real estate investment trust’s stock worth $1,245,000 after acquiring an additional 76 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Citigroup increased their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Evercore set a $195.00 price objective on shares of EastGroup Properties in a research note on Friday, April 24th. Royal Bank Of Canada increased their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and an average target price of $206.40.

EastGroup Properties Stock Down 1.3%

NYSE:EGP opened at $202.09 on Friday. The firm has a market capitalization of $10.86 billion, a P/E ratio of 36.74, a PEG ratio of 3.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The company’s fifty day moving average price is $196.79 and its 200-day moving average price is $188.66. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $207.72.

EastGroup Properties (NYSE:EGP) last released 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. The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities research analysts anticipate that EastGroup Properties, Inc. will post 9.57 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio (DPR) is currently 112.73%.

EastGroup Properties 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.