EastGroup Properties, Inc. $EGP Shares Bought by Heartland Advisors Inc.

Heartland Advisors Inc. grew its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 13.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,705 shares of the real estate investment trust's stock after buying an additional 5,160 shares during the quarter. Heartland Advisors Inc. owned 0.08% of EastGroup Properties worth $7,607,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in EGP. State of Wyoming acquired a new stake in EastGroup Properties in the second quarter valued at approximately $27,000. MAI Capital Management increased its position in shares of EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of EastGroup Properties by 53.5% in the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 85 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of EastGroup Properties by 26,500.0% in the 3rd quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 265 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 139 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $201.18 on Thursday. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $207.72. The firm has a market capitalization of $10.82 billion, a P/E ratio of 36.58, a P/E/G ratio of 3.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The company's fifty day moving average price is $199.09 and its 200 day moving average price is $189.90.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same quarter last year, the company posted $2.15 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, sell-side analysts predict that EastGroup Properties, Inc. will post 9.57 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

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

Analysts Set New Price Targets

EGP has been the subject of a number of analyst reports. KeyCorp boosted their target price on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lifted their price target on EastGroup Properties from $195.00 to $208.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 28th. Weiss Ratings raised EastGroup Properties from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Evercore set a $195.00 price objective on EastGroup Properties in a report on Friday, April 24th. Finally, Wells Fargo & Company raised their target price on EastGroup Properties from $213.00 to $221.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.07.

Insider Buying and Selling

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director owned 3,531 shares of the company's stock, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

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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