Dimensional Fund Advisors LP Increases Position in EastGroup Properties, Inc. $EGP

Dimensional Fund Advisors LP lifted its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 799,996 shares of the real estate investment trust's stock after purchasing an additional 26,727 shares during the quarter. Dimensional Fund Advisors LP owned about 1.49% of EastGroup Properties worth $148,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of EastGroup Properties by 5.1% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust's stock worth $126,677,000 after buying an additional 34,515 shares during the last quarter. Corient Private Wealth LLC lifted its stake in EastGroup Properties by 22.1% during the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust's stock worth $5,260,000 after acquiring an additional 5,341 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in EastGroup Properties by 13.7% during the 4th quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust's stock valued at $7,607,000 after acquiring an additional 5,160 shares during the period. AE Wealth Management LLC grew its position in EastGroup Properties by 30.6% in the 4th quarter. AE Wealth Management LLC now owns 198,900 shares of the real estate investment trust's stock valued at $35,432,000 after acquiring an additional 46,653 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in EastGroup Properties in the 4th quarter valued at about $879,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of EGP opened at $212.66 on Monday. 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 stock's 50 day moving average is $206.60 and its two-hundred day moving average is $196.33. EastGroup Properties, Inc. has a twelve month low of $159.37 and a twelve month high of $226.71. The firm has a market capitalization of $11.43 billion, a PE ratio of 37.31, a P/E/G ratio of 3.20 and a beta of 1.03.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.09. The business had revenue of $193.33 million during the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Research analysts anticipate that EastGroup Properties, Inc. will post 9.59 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business also recently declared 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 of this dividend was Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.9%. EastGroup Properties's dividend payout ratio is 108.77%.

Insiders Place Their Bets

In other EastGroup Properties 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 transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on EGP shares. Morgan Stanley increased their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 27th. Weiss Ratings restated a "buy (b)" rating on shares of EastGroup Properties in a report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $217.00 target price on shares of EastGroup Properties in a research note on Monday, April 27th. Piper Sandler upped their price target on EastGroup Properties from $240.00 to $268.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Finally, Evercore set a $206.00 price target on EastGroup Properties in a report on Thursday. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $218.16.

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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