Legal & General Group Plc Grows Stock Holdings in EastGroup Properties, Inc. $EGP

Legal & General Group Plc lifted its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 13.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 315,826 shares of the real estate investment trust’s stock after purchasing an additional 36,479 shares during the period. Legal & General Group Plc owned about 0.59% of EastGroup Properties worth $56,261,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Hantz Financial Services Inc. lifted its position in shares of EastGroup Properties by 128.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,617 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 910 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $1,709,000. Global Retirement Partners LLC lifted its position in shares of EastGroup Properties by 414.5% in the 4th quarter. Global Retirement Partners LLC now owns 319 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 257 shares during the period. Mach 1 Financial Group LLC purchased a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $816,000. Finally, Covestor Ltd lifted its position in shares of EastGroup Properties by 84.0% in the 4th quarter. Covestor Ltd now owns 1,043 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Citigroup upped their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Morgan Stanley upped their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.40.

EastGroup Properties Trading Down 1.3%

NYSE:EGP opened at $202.09 on Friday. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $207.72. The firm has a 50 day moving average of $196.79 and a 200 day moving average of $188.66. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 3.08 and a beta of 1.05.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. During the same quarter in the prior year, the company posted $2.15 earnings per share. EastGroup Properties’s revenue for the quarter was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, sell-side analysts anticipate that EastGroup Properties, Inc. will post 9.57 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 3.1%. EastGroup Properties’s dividend payout ratio is presently 112.73%.

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.