Insider Selling: EastGroup Properties (NYSE:EGP) Director Sells 504 Shares of Stock
by Scott Moore · The Cerbat GemEastGroup Properties, Inc. (NYSE:EGP – Get Free Report) Director David Michael Fields sold 504 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director owned 3,531 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website.
EastGroup Properties Stock Performance
Shares of EastGroup Properties stock traded down $0.85 during trading on Monday, reaching $197.36. The company’s stock had a trading volume of 363,850 shares, compared to its average volume of 365,854. The business’s 50-day moving average price is $198.09 and its 200-day moving average price is $189.42. The firm has a market cap of $10.61 billion, a PE ratio of 35.88, a P/E/G ratio of 2.98 and a beta of 1.04. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $207.72. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45.
EastGroup Properties (NYSE:EGP – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. During the same quarter in the prior year, the firm earned $2.15 EPS. The firm’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. Equities analysts forecast that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.
EastGroup Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s payout ratio is presently 112.73%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aptus Capital Advisors LLC raised its stake in EastGroup Properties by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock worth $9,284,000 after purchasing an additional 7,212 shares in the last quarter. Citigroup Inc. increased its position in EastGroup Properties by 38.3% in the 3rd quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock valued at $10,403,000 after acquiring an additional 17,009 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its position in EastGroup Properties by 5.1% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock valued at $126,677,000 after acquiring an additional 34,515 shares during the period. DigitalBridge Group Inc. acquired a new position in EastGroup Properties in the 3rd quarter valued at approximately $1,574,000. Finally, Lighthouse Investment Partners LLC acquired a new position in EastGroup Properties in the 3rd quarter valued at approximately $8,151,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
EGP has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $217.00 price objective on shares of EastGroup Properties in a research report on Monday, April 27th. Robert W. Baird upped their price target on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada increased their target price on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Finally, Citigroup upped their price target on EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.07.
About EastGroup Properties
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.