Key Points
- Director David Michael Fields sold 504 shares of EastGroup Properties on June 4 at an average price of $195.77, reducing his holdings by 12.49% to 3,531 shares.
- EastGroup Properties recently reported better-than-expected quarterly EPS of $1.77, topping analyst estimates, while revenue came in slightly below expectations at $190.26 million.
- The company declared a quarterly dividend of $1.55 per share, payable July 15, which equals an annualized yield of about 3.1%.
EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) Director David Michael Fields sold 504 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the transaction, the director directly owned 3,531 shares of the company's stock, valued at approximately $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
EastGroup Properties Price Performance
EastGroup Properties stock opened at $197.36 on Tuesday. The business has a 50 day simple moving average of $198.35 and a 200 day simple moving average of $189.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $10.61 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.98 and a beta of 1.04. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $207.72.
EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million for the quarter, compared to analysts' expectations of $193.84 million. During the same period in the prior year, the business posted $2.15 earnings per share. The business's revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, sell-side analysts forecast that EastGroup Properties, Inc. will post 9.57 EPS for the current fiscal year.
EastGroup Properties Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. EastGroup Properties's dividend payout ratio is presently 112.73%.
Institutional Trading of EastGroup Properties
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp raised 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 worth $167,000 after purchasing an additional 945 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of EastGroup Properties by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust's stock valued at $33,494,000 after buying an additional 41,538 shares during the period. Jane Street Group LLC increased its stake in shares of EastGroup Properties by 309.8% in the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust's stock valued at $2,797,000 after buying an additional 12,003 shares during the period. Focus Partners Wealth raised its position in shares of EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock worth $1,075,000 after acquiring an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers raised its position 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 worth $613,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.
Analyst Upgrades and Downgrades
EGP has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Robert W. Baird lifted their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Citigroup boosted their target price on EastGroup Properties from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Weiss Ratings upgraded EastGroup Properties from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $208.07.
Read Our Latest Stock Analysis on EGP
EastGroup Properties Company Profile
(
Get Free Report)
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.
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