Thrivent Financial for Lutherans Purchases 11,496 Shares of EastGroup Properties, Inc. $EGP

Thrivent Financial for Lutherans boosted its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 94.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,674 shares of the real estate investment trust’s stock after purchasing an additional 11,496 shares during the period. Thrivent Financial for Lutherans’ holdings in EastGroup Properties were worth $3,956,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of EastGroup Properties during the second quarter valued at approximately $27,000. Hilltop National Bank bought a new stake in shares of EastGroup Properties during the 2nd quarter worth approximately $111,000. First Eagle Investment Management LLC boosted its holdings in EastGroup Properties by 51.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 284 shares during the period. Jones Financial Companies Lllp grew its position in EastGroup Properties by 18,900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 945 shares during the last quarter. Finally, Virtus Investment Advisers LLC increased its stake in EastGroup Properties by 7.5% in the second quarter. Virtus Investment Advisers LLC now owns 999 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 70 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president directly owned 20,630 shares in the company, valued at approximately $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

EastGroup Properties Price Performance

Shares of EGP opened at $180.67 on Friday. The stock has a market capitalization of $9.64 billion, a PE ratio of 37.96, a PEG ratio of 2.81 and a beta of 1.11. The company has a 50 day moving average price of $178.58 and a 200-day moving average price of $171.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $188.89.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). The business had revenue of $182.14 million during the quarter, compared to the consensus estimate of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $2.13 EPS. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. Equities analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, December 31st. EastGroup Properties’s payout ratio is 130.25%.

Analyst Ratings Changes

A number of research firms have recently commented on EGP. UBS Group set a $200.00 price target on shares of EastGroup Properties in a report on Thursday, December 4th. KeyCorp upgraded shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 target price on the stock in a research note on Thursday, December 4th. Robert W. Baird raised their target price on shares of EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Morgan Stanley boosted their price target on EastGroup Properties from $178.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Finally, Truist Financial increased their price objective on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.56.

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.