First Trust Advisors LP Acquires 10,250 Shares of EastGroup Properties, Inc. $EGP

Key Points

• First Trust Advisors increased its EastGroup Properties stake by 79.4% in the first quarter, acquiring 10,250 additional shares and bringing its holdings to 23,160 shares valued at approximately $4.29 million. Institutional investors collectively own 92.14% of the REIT.
• EastGroup reported quarterly EPS of $1.40, exceeding the $1.31 analyst estimate, while revenue rose 9% year over year to $193.33 million. The company provided fiscal 2026 EPS guidance of $9.52–$9.66.
• The REIT pays a quarterly dividend of $1.55 per share, or $6.20 annually, representing a 3.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $221.11, versus a recent share price of $203.99.

First Trust Advisors LP raised its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 79.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 23,160 shares of the real estate investment trust's stock after acquiring an additional 10,250 shares during the quarter. First Trust Advisors LP's holdings in EastGroup Properties were worth $4,287,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Westpac Banking Corp grew its stake in shares of EastGroup Properties by 1.4% in the first quarter. Westpac Banking Corp now owns 14,110 shares of the real estate investment trust's stock worth $2,612,000 after purchasing an additional 194 shares during the last quarter. PNC Financial Services Group Inc. raised its position in EastGroup Properties by 4.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,880 shares of the real estate investment trust's stock worth $903,000 after purchasing an additional 221 shares during the last quarter. Convergence Investment Partners LLC raised its position in EastGroup Properties by 13.2% during the 1st quarter. Convergence Investment Partners LLC now owns 7,594 shares of the real estate investment trust's stock worth $1,406,000 after purchasing an additional 884 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in EastGroup Properties by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 799,996 shares of the real estate investment trust's stock worth $148,070,000 after buying an additional 26,727 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in EastGroup Properties by 42.0% during the 1st quarter. Parallel Advisors LLC now owns 990 shares of the real estate investment trust's stock worth $183,000 after buying an additional 293 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Trading Down 2.2%

EGP opened at $203.99 on Wednesday. The company has a fifty day moving average price of $207.15 and a two-hundred day moving average price of $197.56. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $226.71. The company has a market cap of $10.97 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 3.12 and a beta of 1.02. The company has a current ratio of 0.16, a quick 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 data 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. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million for the quarter, compared to analysts' expectations of $193.61 million. During the same quarter in the prior year, the firm earned $2.21 EPS. The business's revenue was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Analysts predict that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on EastGroup Properties from $210.00 to $231.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Robert W. Baird set a $221.00 target price on EastGroup Properties in a report on Friday. BTIG Research raised their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $235.00 price objective on shares of EastGroup Properties in a research note on Monday, July 27th. Finally, Citigroup lifted their target price on shares of EastGroup Properties from $235.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.11.

Insider Buying and Selling at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the sale, the director owned 3,531 shares of the company's stock, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

About EastGroup Properties

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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