4,586 Shares in EastGroup Properties, Inc. $EGP Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,586 shares of the real estate investment trust’s stock, valued at approximately $776,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EGP. State of Wyoming bought a new position in shares of EastGroup Properties in the 2nd quarter worth $27,000. Farther Finance Advisors LLC raised its holdings in EastGroup Properties by 29.3% during the third quarter. Farther Finance Advisors LLC now owns 521 shares of the real estate investment trust’s stock worth $88,000 after buying an additional 118 shares during the last quarter. Hilltop National Bank bought a new position in shares of EastGroup Properties in the second quarter valued at $111,000. First Eagle Investment Management LLC grew its holdings in shares of EastGroup Properties by 51.9% during the second quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 284 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of EastGroup Properties by 29,633.3% during the third quarter. Exchange Traded Concepts LLC now owns 892 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 889 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP opened at $181.36 on Friday. The stock has a 50 day moving average of $179.26 and a 200 day moving average of $171.62. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.82 and a beta of 1.11. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $188.89. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The business had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same period in the prior year, the firm posted $2.13 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. 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. As a group, sell-side analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

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

Wall Street Analysts Forecast Growth

EGP has been the topic of several recent research reports. Piper Sandler set a $220.00 price target on shares of EastGroup Properties in a research report on Friday, December 12th. Mizuho restated a “neutral” rating and issued a $172.00 target price (down previously from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. UBS Group set a $200.00 target price on EastGroup Properties in a research report on Thursday, December 4th. KeyCorp raised EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 price target for the company in a research report on Thursday, December 4th. Finally, Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.89.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties 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 sale, the executive vice president owned 20,630 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Company 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.