Groupe la Francaise Takes Position in EastGroup Properties, Inc. $EGP

Groupe la Francaise acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,002 shares of the real estate investment trust’s stock, valued at approximately $608,000.

Several other institutional investors have also recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in shares of EastGroup Properties by 20,246.3% in the 2nd quarter. California State Teachers Retirement System now owns 12,634,024 shares of the real estate investment trust’s stock valued at $2,558,769,000 after buying an additional 12,571,929 shares during the period. BlackRock Inc. acquired a new position in EastGroup Properties in the second quarter valued at approximately $1,553,186,000. Norges Bank purchased a new stake in EastGroup Properties in the 4th quarter worth approximately $281,054,000. Deutsche Bank AG acquired a new stake in shares of EastGroup Properties during the 2nd quarter worth approximately $114,775,000. Finally, Bank of America Corp DE purchased a new position in shares of EastGroup Properties during the 2nd quarter valued at approximately $94,505,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Ratings Changes

EGP has been the subject of a number of analyst reports. Barclays upped 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. Morgan Stanley increased their price target on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Citigroup upped their target price on EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Raymond James Financial assumed coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target for the company. Finally, Evercore set a $206.00 target price on shares of EastGroup Properties in a research report on Thursday, July 23rd. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $221.68.

EastGroup Properties Price Performance

NYSE:EGP opened at $200.23 on Wednesday. EastGroup Properties, Inc. has a one year low of $163.10 and a one year high of $226.71. The stock has a market cap of $10.77 billion, a PE ratio of 35.13, a P/E/G ratio of 2.89 and a beta of 1.01. 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 stock has a 50 day moving average price of $206.81 and a 200 day moving average price of $200.32.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.09. The company 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 quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Equities research analysts expect that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $1.75 dividend. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.55. This represents a $7.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 30th. EastGroup Properties’s payout ratio is currently 122.81%.

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.