Brown Advisory Inc. Has $60.55 Million Stock Holdings in EastGroup Properties, Inc. $EGP

Brown Advisory Inc. cut its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339,896 shares of the real estate investment trust's stock after selling 31,274 shares during the period. Brown Advisory Inc. owned about 0.64% of EastGroup Properties worth $60,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of EastGroup Properties by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,350,473 shares of the real estate investment trust's stock worth $1,244,141,000 after purchasing an additional 43,633 shares during the period. Cohen & Steers Inc. increased its stake in shares of EastGroup Properties by 7.0% in the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust's stock valued at $545,746,000 after acquiring an additional 200,617 shares in the last quarter. State Street Corp increased its stake in EastGroup Properties by 0.6% during the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust's stock valued at $458,320,000 after purchasing an additional 15,918 shares in the last quarter. Principal Financial Group Inc. increased its stake in EastGroup Properties by 16.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust's stock valued at $410,404,000 after purchasing an additional 318,261 shares in the last quarter. Finally, Norges Bank bought a new stake in EastGroup Properties during the 4th quarter valued at $281,054,000. Institutional investors and hedge funds own 92.14% of the company's stock.

Insider Buying and Selling at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

EastGroup Properties Trading Down 0.0%

Shares of EastGroup Properties stock opened at $205.27 on Monday. EastGroup Properties, Inc. has a 12-month low of $159.37 and a 12-month high of $207.72. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 3.09 and a beta of 1.04. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The company's 50-day moving average price is $199.79 and its 200-day moving average price is $190.24.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm 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 company's revenue for the quarter was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities analysts expect that EastGroup Properties, Inc. will post 9.57 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties's dividend payout ratio is 112.73%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Evercore set a $195.00 target price on shares of EastGroup Properties in a research note on Friday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $217.00 target price on shares of EastGroup Properties in a research note on Monday, April 27th. KeyCorp boosted their price target on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price target 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. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.07.

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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