Corient Private Wealth LLC Acquires 7,254 Shares of EastGroup Properties, Inc. $EGP

Corient Private Wealth LLC raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 49.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,921 shares of the real estate investment trust’s stock after buying an additional 7,254 shares during the period. Corient Private Wealth LLC’s holdings in EastGroup Properties were worth $3,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming purchased a new stake in shares of EastGroup Properties in the 2nd quarter worth $27,000. Hilltop National Bank purchased a new stake in EastGroup Properties in the second quarter worth about $111,000. First Eagle Investment Management LLC raised its stake in shares of EastGroup Properties by 51.9% in the second quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 284 shares during the period. Virtus Investment Advisers LLC lifted its position in shares of EastGroup Properties by 7.5% during the 2nd quarter. Virtus Investment Advisers LLC now owns 999 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 70 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of 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 valued at $167,000 after buying an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.7%

EGP opened at $180.67 on Monday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $178.58 and its two-hundred day moving average is $171.33. The company has a market capitalization of $9.64 billion, a P/E ratio of 37.96, a PEG ratio of 2.81 and a beta of 1.11. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $188.89.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). The firm had revenue of $182.14 million for 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%.EastGroup Properties’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $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. Analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

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

Analyst Ratings Changes

EGP has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of EastGroup Properties from $178.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Cantor Fitzgerald boosted their target price on shares of EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Robert W. Baird increased their target price on EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Wells Fargo & Company lifted their price target on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, Piper Sandler set a $220.00 price objective on shares of EastGroup Properties in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, EastGroup Properties currently has a consensus rating of “Moderate Buy” and an average price target of $193.56.

Insider Activity at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. This represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

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.