Principal Financial Group Inc. Buys 24,910 Shares of EastGroup Properties, Inc. $EGP

Key Points

• Principal Financial Group increased its stake in EastGroup Properties by 1.1% in the first quarter, buying 24,910 additional shares and bringing its total holding to 2,328,714 shares worth about $431 million.
• EastGroup Properties reported strong quarterly earnings, with EPS of $1.77 topping estimates by $0.50, while revenue rose 9.1% year over year. The company also raised its FY 2026 guidance to 9.46-9.66 EPS.
• The REIT recently declared a quarterly dividend of $1.55 per share, or $6.20 annually, yielding 2.9%. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $212.18.

Principal Financial Group Inc. grew its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,328,714 shares of the real estate investment trust's stock after purchasing an additional 24,910 shares during the quarter. Principal Financial Group Inc. owned approximately 4.33% of EastGroup Properties worth $431,028,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Renaissance Group LLC boosted its holdings in shares of EastGroup Properties by 3.9% during the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust's stock worth $256,000 after buying an additional 54 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in EastGroup Properties by 4.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust's stock worth $281,000 after acquiring an additional 60 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in EastGroup Properties by 2.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust's stock worth $432,000 after acquiring an additional 62 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of EastGroup Properties by 1.9% during the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust's stock worth $613,000 after acquiring an additional 68 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of EastGroup Properties by 35.6% during the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

Insiders Place Their Bets

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

EastGroup Properties Stock Up 0.6%

Shares of EGP opened at $210.90 on Tuesday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $216.98. The firm's 50 day moving average is $204.02 and its 200-day moving average is $193.99. The stock has a market capitalization of $11.34 billion, a PE ratio of 38.34, a P/E/G ratio of 3.15 and a beta of 1.03.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued 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. The business had revenue of $190.26 million during the quarter, compared to analysts' expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities research analysts forecast that EastGroup Properties, Inc. will post 9.58 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties's payout ratio is 112.73%.

Analyst Ratings Changes

Several research firms have recently commented on EGP. KeyCorp upped their target price on EastGroup Properties from $210.00 to $220.00 and gave the company an "overweight" rating in a research report on Monday. Royal Bank Of Canada lifted their price target on EastGroup Properties from $195.00 to $208.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 28th. BTIG Research boosted their price target on EastGroup Properties from $218.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Weiss Ratings raised EastGroup Properties from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Finally, Evercore set a $195.00 target price on EastGroup Properties in a report on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $212.18.

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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