Public Employees Retirement System of Ohio Buys Shares of 112,847 EastGroup Properties, Inc. $EGP

Public Employees Retirement System of Ohio purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 112,847 shares of the real estate investment trust’s stock, valued at approximately $22,855,000.

Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after purchasing an additional 41,538 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of EastGroup Properties by 309.8% during the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after purchasing an additional 12,003 shares during the last quarter. Focus Partners Wealth raised its position in shares of EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after buying an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of EastGroup Properties by 1.9% during the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 68 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the stock in a transaction that occurred on 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 sale, the director owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Down 0.0%

Shares of NYSE EGP opened at $199.90 on Friday. EastGroup Properties, Inc. has a 52-week low of $163.10 and a 52-week high of $226.71. The firm has a fifty day moving average of $207.62 and a 200-day moving average of $199.85. The stock has a market capitalization of $10.75 billion, a PE ratio of 35.07, a P/E/G ratio of 2.91 and a beta of 1.02. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same period last year, the company posted $2.21 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, analysts anticipate that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.5%. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.55. EastGroup Properties’s dividend payout ratio is presently 108.77%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Citigroup increased their price target on EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Robert W. Baird set a $221.00 price objective on EastGroup Properties in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of EastGroup Properties in a research note on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and a consensus target price of $221.11.

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.