EastGroup Properties (NYSE:EGP) Director Sells $98,668.08 in Stock

Key Points

• Director David Michael Fields sold 504 shares of EastGroup Properties for about $98,668 at an average price of $195.77, reducing his stake by 12.49%.
• EGP shares were trading slightly lower, down 0.4% to $197.36, while the stock remains near its recent range with a 52-week high of $207.72 and low of $159.37.
• The REIT beat quarterly EPS expectations with $1.77 per share versus $1.27 expected and also announced a $1.55 quarterly dividend, implying a 3.1% annualized yield.

EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated 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 owned 3,531 shares of the company's stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

EastGroup Properties Trading Down 0.4%

NYSE EGP traded down $0.85 during trading on Monday, hitting $197.36. The stock had a trading volume of 363,850 shares, compared to its average volume of 365,854. The stock has a 50 day simple moving average of $198.09 and a 200 day simple moving average of $189.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $207.72. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 35.88, a P/E/G ratio of 2.98 and a beta of 1.04.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping 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 business had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. During the same period in the prior year, the firm posted $2.15 earnings per share. The business's quarterly revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Sell-side analysts predict that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties's dividend payout ratio (DPR) is 112.73%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EGP. Citigroup lifted their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Truist Financial upped their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Robert W. Baird increased their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Wells Fargo & Company upped their target price on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $217.00 target price on shares of EastGroup Properties in a research report on Monday, April 27th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.07.

Institutional Investors Weigh In On EastGroup Properties

A number of large investors have recently made changes to their positions in EGP. Renaissance Group LLC grew its position in EastGroup Properties by 3.9% in the fourth quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust's stock worth $256,000 after acquiring an additional 54 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of EastGroup Properties by 4.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust's stock worth $281,000 after purchasing an additional 60 shares during the last quarter. Azzad Asset Management Inc. ADV grew its holdings in EastGroup Properties by 2.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust's stock worth $432,000 after acquiring an additional 62 shares during the last quarter. Cetera Investment Advisers grew its holdings in EastGroup Properties by 1.9% during the 2nd 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. Finally, Larson Financial Group LLC boosted its stake in shares of EastGroup Properties by 35.6% in the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 92.14% 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.

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