Inscription Capital LLC Boosts Stock Position in EastGroup Properties, Inc. $EGP

Inscription Capital LLC increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 198.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,915 shares of the real estate investment trust’s stock after buying an additional 4,597 shares during the quarter. Inscription Capital LLC’s holdings in EastGroup Properties were worth $1,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its stake in shares of EastGroup Properties by 159.7% in the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. State of Wyoming purchased a new stake in shares of EastGroup Properties in the second quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in EastGroup Properties during the third quarter worth about $34,000. Mather Group LLC. purchased a new position in EastGroup Properties during the third quarter worth about $35,000. Finally, Canton Hathaway LLC boosted its holdings in EastGroup Properties by 31.6% in the 3rd quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

EGP opened at $185.66 on Wednesday. The stock’s 50-day moving average price is $181.24 and its 200 day moving average price is $173.20. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $188.89. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 2.76 and a beta of 1.11. 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 issued 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 business had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $2.13 earnings per share. 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 expect 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 was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is currently 130.25%.

Insider Activity at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction 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. This represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EGP has been the subject of a number of recent analyst reports. Industrial Alliance Securities set a $200.00 price target on shares of EastGroup Properties in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EastGroup Properties in a research report on Monday, December 29th. BNP Paribas Exane raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Monday, October 27th. UBS Group set a $200.00 price target on EastGroup Properties in a research note on Thursday, December 4th. Finally, Evercore ISI increased their price target on EastGroup Properties from $183.00 to $185.00 and gave the stock an “in-line” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.88.

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.