Sound Financial Strategies Group LLC Acquires New Holdings in EastGroup Properties, Inc. $EGP

Key Points

• Sound Financial Strategies Group acquired 12,551 EastGroup Properties shares worth approximately $2.54 million in the second quarter, making EGP about 1.6% of its portfolio. Institutional investors collectively own 92.14% of the REIT.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and six Holds. EastGroup has a “Moderate Buy” consensus rating and an average price target of $221.11, above its reported $202.12 share price.
• EastGroup exceeded quarterly EPS expectations, reporting $1.40 versus the $1.31 consensus, while revenue rose 9% year over year to $193.33 million. The company pays a $1.55 quarterly dividend, or $6.20 annually, yielding about 3.1%.

Sound Financial Strategies Group LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,551 shares of the real estate investment trust's stock, valued at approximately $2,542,000. EastGroup Properties accounts for about 1.6% of Sound Financial Strategies Group LLC's portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of EGP. Jones Financial Companies Lllp grew its position in shares of EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust's stock valued at $167,000 after purchasing an additional 945 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of EastGroup Properties by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust's stock worth $33,494,000 after purchasing an additional 41,538 shares during the period. Jane Street Group LLC raised its position in shares of EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust's stock worth $2,797,000 after buying an additional 12,003 shares in the last quarter. Focus Partners Wealth raised its position in shares of EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock worth $1,075,000 after buying an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in 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 valued at $613,000 after buying an additional 68 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director directly owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EGP has been the subject of several recent analyst reports. Robert W. Baird set a $221.00 target price on EastGroup Properties in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price target on EastGroup Properties from $210.00 to $231.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Royal Bank Of Canada lifted their price target on EastGroup Properties from $208.00 to $220.00 and gave the company a "sector perform" rating in a research report on Monday, August 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of EastGroup Properties in a report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $221.11.

EastGroup Properties Trading Down 0.7%

NYSE EGP opened at $202.12 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. The stock's 50-day simple moving average is $207.71 and its two-hundred day simple moving average is $198.96. EastGroup Properties, Inc. has a twelve month low of $162.75 and a twelve month high of $226.71. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 3.04 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted 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. The firm had revenue of $193.33 million during the quarter, compared to analysts' expectations of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Research analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.1%. EastGroup Properties's dividend payout ratio is currently 108.77%.

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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