Truist Financial Corp Has $1.61 Million Stake in EastGroup Properties, Inc. $EGP

Truist Financial Corp trimmed its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 55.6% in the fourth quarter, HoldingsChannel reports. The firm owned 9,022 shares of the real estate investment trust’s stock after selling 11,310 shares during the period. Truist Financial Corp’s holdings in EastGroup Properties were worth $1,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Aptus Capital Advisors LLC lifted its position in shares of EastGroup Properties by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock worth $9,284,000 after purchasing an additional 7,212 shares in the last quarter. Principal Financial Group Inc. boosted its position in EastGroup Properties by 43.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock valued at $336,076,000 after buying an additional 602,253 shares during the last quarter. Nordea Investment Management AB boosted its position in EastGroup Properties by 13.4% in the 3rd quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock valued at $13,912,000 after buying an additional 9,776 shares during the last quarter. Citigroup Inc. boosted its position in EastGroup Properties by 38.3% in the 3rd quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock valued at $10,403,000 after buying an additional 17,009 shares during the last quarter. Finally, DigitalBridge Group Inc. bought a new position in EastGroup Properties in the 3rd quarter valued at $1,574,000. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Trading Down 0.6%

NYSE EGP opened at $202.34 on Friday. The firm has a market cap of $10.88 billion, a P/E ratio of 36.79, a P/E/G ratio of 3.06 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 stock’s 50-day moving average is $193.70 and its 200-day moving average is $186.56. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $206.78.

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, topping analysts’ consensus estimates 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 return on equity of 8.37% and a net margin of 39.69%.EastGroup Properties’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Sell-side analysts anticipate that EastGroup Properties, Inc. will post 9.56 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.1%. EastGroup Properties’s payout ratio is presently 112.73%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EGP shares. Truist Financial increased their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Morgan Stanley lifted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Citigroup lifted their price objective on EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Robert W. Baird lifted their price objective on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, Evercore set a $195.00 price objective on EastGroup Properties in a research report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.33.

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.