Corient Private Wealth LLC Boosts Stake in EastGroup Properties, Inc. $EGP

Corient Private Wealth LLC raised its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 22.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 29,516 shares of the real estate investment trust’s stock after buying an additional 5,341 shares during the quarter. Corient Private Wealth LLC’s holdings in EastGroup Properties were worth $5,260,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State of Wyoming acquired a new stake in shares of EastGroup Properties in the second quarter valued at about $27,000. MAI Capital Management grew its position in EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 82 shares during the period. Parallel Advisors LLC increased its holdings in 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 buying an additional 85 shares in the last quarter. Clearstead Advisors LLC increased its holdings in 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 buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of EastGroup Properties by 35.6% during the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 69 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird lifted their price target on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada increased their target price on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” 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 note on Friday, April 24th. KeyCorp raised their price target on shares of EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Evercore set a $195.00 target price on EastGroup Properties in a research report on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.12.

EastGroup Properties Stock Performance

Shares of NYSE EGP opened at $206.99 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $11.13 billion, a P/E ratio of 37.63, a PEG ratio of 3.07 and a beta of 1.04. EastGroup Properties, Inc. has a 1 year low of $159.37 and a 1 year high of $207.72. The stock has a fifty day moving average price of $202.02 and a two-hundred day moving average price of $191.75.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (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 analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Research analysts forecast that EastGroup Properties, Inc. will post 9.58 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

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

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the sale, the director directly owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

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.