GW&K Investment Management LLC Sells 12,380 Shares of EastGroup Properties, Inc. $EGP

Key Points

• GW&K Investment Management cut its EastGroup Properties stake by 4.1% in the fourth quarter, selling 12,380 shares and leaving it with 287,705 shares worth about $51.3 million.
• EastGroup Properties reported better-than-expected quarterly 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 declared a quarterly dividend of $1.55 per share, equal to an annualized dividend of $6.20 and a yield of 3.1%; analysts currently have a consensus rating of Moderate Buy with an average target price of $208.07.

GW&K Investment Management LLC reduced its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,705 shares of the real estate investment trust's stock after selling 12,380 shares during the quarter. GW&K Investment Management LLC owned approximately 0.54% of EastGroup Properties worth $51,253,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EGP. State of Wyoming bought a new position in EastGroup Properties in the 2nd quarter valued at $27,000. MAI Capital Management grew its holdings in shares of EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of EastGroup Properties by 53.5% during the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 85 shares during the last quarter. AlphaQuest LLC increased its stake in shares of EastGroup Properties by 26,500.0% in the third quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 265 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 139 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Up 2.6%

Shares of NYSE:EGP opened at $202.61 on Wednesday. The company has a 50 day moving average price of $198.73 and a two-hundred day moving average price of $189.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $10.89 billion, a PE ratio of 36.84, a PEG ratio of 2.97 and a beta of 1.04. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $207.72.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same quarter in the previous year, the business earned $2.15 EPS. The firm's revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Analysts forecast that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties's dividend payout ratio is 112.73%.

Analyst Upgrades and Downgrades

EGP has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Royal Bank Of Canada boosted their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of EastGroup Properties from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Wall Street Zen raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Evercore set a $195.00 price objective on shares of EastGroup Properties in a research report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $208.07.

Insider Activity

In other news, Director David Michael Fields sold 504 shares of the firm's stock in a transaction dated 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 owned 3,531 shares of the company's stock, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company 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.

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.