Public Employees Retirement System of Ohio Invests $22.86 Million in EastGroup Properties, Inc. $EGP

Key Points

• Public Employees Retirement System of Ohio acquired 112,847 EastGroup Properties shares worth approximately $22.86 million, representing about 0.21% of the industrial REIT. Institutional investors collectively own 92.14% of the company.
• Analysts remain broadly positive, with a “Moderate Buy” consensus from 18 analysts and an average price target of $221.11. EastGroup also exceeded quarterly EPS expectations, reporting $1.40 versus the $1.31 consensus, while revenue rose 9% year over year.
• EastGroup increased its quarterly dividend to $1.75 per share from $1.55, implying an annualized payout of $7.00 and a 3.5% yield. Shares opened at $199.90, below the 50-day moving average of $207.62.

Public Employees Retirement System of Ohio purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 112,847 shares of the real estate investment trust's stock, valued at approximately $22,855,000. Public Employees Retirement System of Ohio owned approximately 0.21% of EastGroup Properties as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State of Wyoming acquired a new stake in EastGroup Properties during the 2nd quarter worth $27,000. Glen Eagle Advisors LLC grew its holdings in shares of EastGroup Properties by 96.3% during the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 104 shares during the last quarter. Parallel Advisors LLC increased its position 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 in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of EastGroup Properties by 114.9% in the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 139 shares during the last quarter. Finally, Avalon Trust Co purchased a new stake in shares of EastGroup Properties in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

Insider Buying and Selling

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director owned 3,531 shares of the company's stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BTIG Research lifted their price objective on shares of EastGroup Properties from $218.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Wells Fargo & Company raised their price target on EastGroup Properties from $213.00 to $221.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. KeyCorp boosted their price target on EastGroup Properties from $210.00 to $220.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Evercore set a $206.00 price objective on EastGroup Properties in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of EastGroup Properties in a research report on Tuesday, July 21st. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $221.11.

EastGroup Properties Stock Down 0.0%

EGP stock opened at $199.90 on Friday. The company has a market cap of $10.75 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.91 and a beta of 1.02. EastGroup Properties, Inc. has a 52 week low of $163.10 and a 52 week high of $226.71. The company's 50-day moving average price is $207.62 and its 200 day moving average price is $199.85. 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 posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.09. The company had revenue of $193.33 million during the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, research analysts expect that EastGroup Properties, Inc. will post 9.6 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.75 per share. The ex-dividend date is Wednesday, September 30th. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.55. This represents a $7.00 dividend on an annualized basis and a yield of 3.5%. EastGroup Properties's dividend payout ratio (DPR) is presently 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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