FJ Capital Management LLC Makes New Investment in EastGroup Properties, Inc. $EGP

FJ Capital Management LLC purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,789 shares of the real estate investment trust’s stock, valued at approximately $853,000.

Other institutional investors also recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of EastGroup Properties during the second quarter valued at $27,000. MAI Capital Management increased its stake in shares of EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 82 shares in the last quarter. Parallel Advisors LLC grew its position in shares of EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 85 shares during the period. Clearstead Advisors LLC lifted its position in shares of EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of EastGroup Properties by 35.6% during 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 in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EGP. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Truist Financial raised their price objective on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. KeyCorp lifted their price objective on EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price target on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Evercore set a $195.00 price objective on shares of EastGroup Properties in a research note on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.07.

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Trading Up 1.3%

NYSE EGP opened at $205.27 on Friday. The firm has a 50-day moving average price of $199.79 and a 200 day moving average price of $190.17. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $207.72. The stock has a market capitalization of $11.04 billion, a P/E ratio of 37.32, a P/E/G ratio of 3.09 and a beta of 1.04. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45.

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

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s dividend payout ratio is 112.73%.

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.