California State Teachers Retirement System Purchases 286 Shares of EastGroup Properties, Inc. $EGP

California State Teachers Retirement System boosted its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,381 shares of the real estate investment trust's stock after purchasing an additional 286 shares during the period. California State Teachers Retirement System owned approximately 0.12% of EastGroup Properties worth $12,634,024 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Glen Eagle Advisors LLC raised its stake in shares of EastGroup Properties by 96.3% in the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 104 shares during the period. Clearstead Advisors LLC boosted its stake in EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust's stock valued at $46,000 after acquiring an additional 139 shares during the last quarter. Avalon Trust Co bought a new position in shares of EastGroup Properties in the first quarter worth $46,000. Larson Financial Group LLC raised its stake in EastGroup Properties by 35.6% during 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 period. Finally, Global Retirement Partners LLC grew its holdings in EastGroup Properties by 414.5% during the fourth quarter. Global Retirement Partners LLC now owns 319 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 257 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

NYSE EGP traded up $0.08 during trading on Tuesday, reaching $197.65. 115,527 shares of the company traded hands, compared to its average volume of 388,248. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. EastGroup Properties, Inc. has a 1-year low of $164.26 and a 1-year high of $226.71. The company has a market cap of $10.63 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 2.89 and a beta of 1.01. The stock's 50 day moving average price is $205.82 and its two-hundred day moving average price is $200.49.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same period in the previous year, the firm earned $2.21 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, analysts anticipate that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.5%. This is an increase from EastGroup Properties's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, September 30th. EastGroup Properties's dividend payout ratio is 122.81%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EGP. Robert W. Baird set a $221.00 price target on EastGroup Properties in a research report on Friday, July 31st. Barclays upped their price objective on shares of EastGroup Properties from $210.00 to $228.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. boosted their price target on EastGroup Properties from $210.00 to $231.00 and gave the company a "neutral" rating in a report on Friday, July 24th. KeyCorp lifted their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Finally, Citigroup upped their price target on EastGroup Properties from $235.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $221.47.

EastGroup Properties Company Profile

EastGroup Properties, Inc NYSE: EGP is a real estate investment trust that owns, develops, acquires and operates industrial properties. The company focuses primarily on business distribution space, including functional warehouse and light industrial facilities designed to support local and regional distribution, manufacturing and service businesses.

EastGroup concentrates its portfolio in major Sun Belt markets, with a presence in states including Arizona, California, Florida, Georgia, Nevada, North Carolina, Oklahoma, Tennessee and Texas.

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