EastGroup Properties, Inc. $EGP Shares Sold by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC cut its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 93.1% in the first quarter, HoldingsChannel.com reports. The firm owned 322 shares of the real estate investment trust’s stock after selling 4,328 shares during the quarter. Elevated Capital Advisors LLC’s holdings in EastGroup Properties were worth $60,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EGP. State of Wyoming acquired a new position in EastGroup Properties in the second quarter valued at about $27,000. Parallel Advisors LLC boosted its stake 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 grew its stake 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 worth $46,000 after acquiring an additional 139 shares in the last quarter. Larson Financial Group LLC grew its stake in 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 worth $47,000 after purchasing an additional 69 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in EastGroup Properties by 414.5% during the 4th quarter. Global Retirement Partners LLC now owns 319 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 257 shares during the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Performance

NYSE EGP traded down $0.99 during trading hours on Friday, hitting $209.44. 378,496 shares of the stock were exchanged, compared to its average volume of 374,655. 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 company has a market cap of $11.26 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 3.15 and a beta of 1.03. EastGroup Properties, Inc. has a 12-month low of $159.37 and a 12-month high of $216.98. The stock has a 50-day moving average of $203.82 and a 200 day moving average of $193.68.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same quarter in the previous year, the company earned $2.15 EPS. The firm’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, equities research analysts forecast that EastGroup Properties, Inc. will post 9.58 earnings per share for the current year.

EastGroup Properties Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EGP. Royal Bank Of Canada boosted their price objective on EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 28th. Morgan Stanley lifted their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Raymond James Financial initiated coverage on shares of EastGroup Properties in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target for the company. Evercore set a $195.00 price target on shares of EastGroup Properties in a research note on Friday, April 24th. Finally, Robert W. Baird raised their price objective 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. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.59.

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate 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.