Public Employees Retirement System of Ohio Sells 12,423 Shares of EastGroup Properties, Inc. $EGP

Public Employees Retirement System of Ohio lowered its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 10.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 111,568 shares of the real estate investment trust’s stock after selling 12,423 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in EastGroup Properties were worth $20,650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in EGP. State of Wyoming purchased a new position in shares of EastGroup Properties in the second quarter worth approximately $27,000. Parallel Advisors LLC grew its position in EastGroup Properties by 53.5% during 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 during the period. Clearstead Advisors LLC increased its holdings in EastGroup Properties by 114.9% during 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 during the last quarter. Avalon Trust Co purchased a new stake in EastGroup Properties during the first quarter valued at approximately $46,000. Finally, Larson Financial Group LLC raised its position in EastGroup Properties by 35.6% in the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 69 shares during the period. Institutional investors own 92.14% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the sale, the director directly owned 3,531 shares of the company’s stock, valued at $691,263.87. This trade represents 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 currently owned by corporate insiders.

EastGroup Properties Trading Down 0.7%

EastGroup Properties stock opened at $212.66 on Friday. EastGroup Properties, Inc. has a 12-month low of $159.37 and a 12-month high of $226.71. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 37.31, a P/E/G ratio of 3.20 and a beta of 1.03. The firm has a 50 day moving average of $206.60 and a 200 day moving average of $196.22. The company has a current ratio of 0.16, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, research analysts predict that EastGroup Properties, Inc. will post 9.59 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is presently 108.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EGP. Citigroup lifted their price target on shares of EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial upped their price objective on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EastGroup Properties in a report on Tuesday. BTIG Research raised their target price on EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Wells Fargo & Company lifted their target price on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, EastGroup Properties currently has a consensus rating of “Moderate Buy” and an average price target of $218.16.

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.