Compass Wealth Management LLC Makes New Investment in EastGroup Properties, Inc. $EGP

Key Points

• Compass Wealth Management purchased 7,436 shares of EastGroup Properties valued at approximately $1.51 million during the second quarter. Institutional investors collectively own 92.14% of the REIT.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and six Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $221.11.
• EastGroup reported quarterly EPS of $1.40, exceeding estimates of $1.31, while revenue rose 9% year over year to $193.33 million. The company pays a quarterly dividend of $1.55 per share, equivalent to a 3.1% yield.

Compass Wealth Management LLC purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,436 shares of the real estate investment trust's stock, valued at approximately $1,506,000.

Several other institutional investors have also modified their holdings of the business. State of Wyoming bought a new stake in EastGroup Properties during the 2nd quarter worth approximately $27,000. Glen Eagle Advisors LLC lifted its stake in EastGroup Properties by 96.3% in the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 104 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 85 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 139 shares during the period. Finally, Avalon Trust Co bought a new stake in shares of EastGroup Properties during the first quarter worth $46,000. Institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EGP shares. Weiss Ratings restated a "buy (b)" rating on shares of EastGroup Properties in a report on Tuesday, July 21st. Raymond James Financial started coverage on shares of EastGroup Properties in a research note on Wednesday, June 17th. They issued an "outperform" rating and a $241.00 target price for the company. Evercore set a $206.00 price target on EastGroup Properties in a research note on Thursday, July 23rd. Citigroup boosted their price target on EastGroup Properties from $235.00 to $250.00 and gave the company a "buy" rating in a report on Friday, July 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $235.00 price objective on shares of EastGroup Properties in a report on Monday, July 27th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $221.11.

EastGroup Properties Price Performance

NYSE:EGP opened at $202.12 on Wednesday. EastGroup Properties, Inc. has a 1-year low of $162.75 and a 1-year high of $226.71. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $207.71 and a 200 day simple moving average of $198.96. The stock has a market capitalization of $10.87 billion, a PE ratio of 35.46, a P/E/G ratio of 3.04 and a beta of 1.02.

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

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.55 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. EastGroup Properties's payout ratio is currently 108.77%.

Insider Activity

In other news, Director David Michael Fields sold 504 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

EastGroup Properties 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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