EastGroup Properties, Inc. $EGP Shares Sold by Adelante Capital Management LLC

Key Points

• Adelante Capital Management cut its EastGroup Properties stake by 30.3% in the first quarter, selling 20,570 shares and retaining 47,333 shares worth approximately $8.8 million. Institutional investors and hedge funds collectively own 92.14% of EGP.
• EastGroup reported quarterly EPS of $1.40, exceeding the $1.31 consensus estimate, while revenue rose 9% year over year to $193.33 million. The company maintained 2026 EPS guidance of $9.52–$9.66.
• Shares opened at $210.13, and analysts maintain a “Moderate Buy” consensus with an average price target of $219.89. EastGroup also pays a quarterly dividend of $1.55 per share, implying a 3.0% annualized yield.

Adelante Capital Management LLC trimmed its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,333 shares of the real estate investment trust's stock after selling 20,570 shares during the quarter. Adelante Capital Management LLC owned 0.09% of EastGroup Properties worth $8,761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of EastGroup Properties by 3.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust's stock valued at $373,000 after buying an additional 75 shares during the period. California State Teachers Retirement System grew its holdings in EastGroup Properties by 22.7% during the first quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust's stock worth $11,493,000 after acquiring an additional 11,504 shares during the period. The Manufacturers Life Insurance Company grew its holdings in EastGroup Properties by 2.8% during the first quarter. The Manufacturers Life Insurance Company now owns 272,324 shares of the real estate investment trust's stock worth $50,404,000 after acquiring an additional 7,301 shares during the period. Glen Eagle Advisors LLC raised its position in EastGroup Properties by 96.3% during the first 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 in the last quarter. Finally, Quantinno Capital Management LP raised its position in EastGroup Properties by 38.8% during the first quarter. Quantinno Capital Management LP now owns 501,286 shares of the real estate investment trust's stock valued at $92,783,000 after acquiring an additional 140,166 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the 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 completion of the transaction, the director owned 3,531 shares of the company's stock, valued at $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

EastGroup Properties Stock Down 0.3%

Shares of NYSE EGP opened at $210.13 on Wednesday. The company's 50-day simple moving average is $206.92 and its 200-day simple moving average is $196.73. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $226.71. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 3.16 and a beta of 1.03. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45.

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

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 30th. EastGroup Properties's payout ratio is 108.77%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EGP. KeyCorp upped their price objective on EastGroup Properties from $210.00 to $220.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Piper Sandler lifted their target price on shares of EastGroup Properties from $240.00 to $268.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Barclays boosted their target price 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. increased their price target on shares of EastGroup Properties from $210.00 to $231.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Morgan Stanley raised their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 27th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of "Moderate Buy" and an average price target of $219.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.