EastGroup Properties, Inc. $EGP Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group cut its EastGroup Properties stake by 74% in the second quarter, selling 278,729 shares and retaining 98,017 shares worth approximately $19.9 million. Institutional investors and hedge funds collectively own 92.14% of EGP.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $221.11. Recent firms raised targets as high as $241, while EastGroup’s latest quarterly earnings beat expectations.
• EastGroup increased its quarterly dividend to $1.75 per share, or $7.00 annualized, representing a 3.5% yield. The company reported 9% year-over-year revenue growth and issued fiscal 2026 EPS guidance of $9.52–$9.66.

Alyeska Investment Group L.P. lessened its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 74.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,017 shares of the real estate investment trust's stock after selling 278,729 shares during the period. Alyeska Investment Group L.P. owned approximately 0.18% of EastGroup Properties worth $19,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of EastGroup Properties by 11.5% during the 2nd quarter. Wellington Management Group LLP now owns 224,548 shares of the real estate investment trust's stock worth $45,478,000 after purchasing an additional 23,156 shares during the period. Beacon Pointe Advisors LLC acquired a new position in EastGroup Properties during the second quarter valued at approximately $462,000. United Capital Financial Advisors LLC purchased a new stake in EastGroup Properties during the second quarter worth approximately $891,000. Public Employees Retirement System of Ohio purchased a new stake in EastGroup Properties during the second quarter worth approximately $22,855,000. Finally, Adelante Capital Management LLC purchased a new stake in EastGroup Properties during the second quarter worth approximately $8,904,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EastGroup Properties

In other 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 sale, the director directly owned 3,531 shares in the company, 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. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on EGP shares. Wells Fargo & Company lifted their target price on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an "overweight" rating in a report on Monday, June 1st. KeyCorp raised their price objective on EastGroup Properties from $210.00 to $220.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Raymond James Financial assumed coverage on EastGroup Properties in a research note on Wednesday, June 17th. They set an "outperform" rating and a $241.00 price objective on the stock. Barclays increased their target price on EastGroup Properties from $210.00 to $228.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $235.00 price target on shares of EastGroup Properties in a research 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $221.11.

EastGroup Properties Stock Performance

Shares of EGP opened at $199.39 on Tuesday. The business's fifty day moving average price is $207.54 and its 200 day moving average price is $199.96. EastGroup Properties, Inc. has a 12-month low of $163.10 and a 12-month high of $226.71. The stock has a market capitalization of $10.72 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 2.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $193.33 million during 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 firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Equities research analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.5%. This is a boost 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 currently 108.77%.

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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