EastGroup Properties, Inc. $EGP Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its EastGroup Properties stake by 21.6% in the fourth quarter, selling 55,000 shares and leaving it with 199,158 shares worth about $35.5 million.
• EastGroup Properties reported Q1 earnings of $1.77 per share, beating estimates by $0.50, while revenue rose 9.1% year over year to $190.26 million. The company also issued FY 2026 EPS guidance of 9.46 to 9.66.
• The REIT continues to draw bullish analyst coverage, with multiple firms reiterating buy/overweight ratings and lifting price targets; the consensus rating is Moderate Buy with an average target of $205.33.

Handelsbanken Fonder AB reduced its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 21.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,158 shares of the real estate investment trust's stock after selling 55,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.37% of EastGroup Properties worth $35,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in EastGroup Properties by 43.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust's stock worth $336,076,000 after acquiring an additional 602,253 shares in the last quarter. Centersquare Investment Management LLC lifted its position in EastGroup Properties by 619.9% during the 3rd quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust's stock worth $50,324,000 after acquiring an additional 256,019 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in EastGroup Properties by 296.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 285,476 shares of the real estate investment trust's stock worth $48,320,000 after acquiring an additional 213,493 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in EastGroup Properties by 199.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 207,372 shares of the real estate investment trust's stock worth $35,100,000 after acquiring an additional 138,193 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in EastGroup Properties by 14,736.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 126,558 shares of the real estate investment trust's stock worth $22,545,000 after acquiring an additional 125,705 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

EGP stock opened at $202.47 on Wednesday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 52-week low of $159.37 and a 52-week high of $206.78. The stock's 50 day moving average is $194.31 and its two-hundred day moving average is $187.09. The company has a market capitalization of $10.88 billion, a PE ratio of 36.81, a P/E/G ratio of 3.04 and a beta of 1.05.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted 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 the consensus estimate of $193.84 million. During the same period in the previous year, the business earned $2.15 EPS. EastGroup Properties's revenue for the quarter 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. Analysts predict that EastGroup Properties, Inc. will post 9.56 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, March 31st. EastGroup Properties's payout ratio is 112.73%.

Analyst Ratings Changes

Several equities analysts recently commented on EGP shares. Cantor Fitzgerald reissued an "overweight" rating and set a $217.00 price target on shares of EastGroup Properties in a research report on Monday, April 27th. Citigroup boosted their price target on EastGroup Properties from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Piper Sandler boosted their price target on EastGroup Properties from $220.00 to $230.00 and gave the stock an "overweight" rating in a research report on Monday, February 9th. Truist Financial boosted their price target on EastGroup Properties from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Robert W. Baird boosted their price target on EastGroup Properties from $208.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $205.33.

EastGroup Properties Company 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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