Sound Financial Strategies Group LLC Takes Position in EastGroup Properties, Inc. $EGP

Key Points

• Sound Financial Strategies Group LLC bought 12,551 shares of EastGroup Properties in the fourth quarter, a stake valued at about $2.24 million. The position represents roughly 1.6% of its portfolio and is its 15th-largest holding.
• EastGroup Properties was trading up 0.7% at $205.34, near its 52-week high of $206.78. The stock has a market cap of about $11.04 billion and a consensus Wall Street rating of Moderate Buy with a target price of $205.33.
• The REIT reported Q1 EPS of $1.77, beating analyst expectations by $0.50, while revenue rose 9.1% year over year to $190.26 million. EastGroup also pays a quarterly dividend of $1.55, equal to an annualized yield of about 3.0%.

Sound Financial Strategies Group LLC bought a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,551 shares of the real estate investment trust's stock, valued at approximately $2,236,000. EastGroup Properties accounts for approximately 1.6% of Sound Financial Strategies Group LLC's investment portfolio, making the stock its 15th largest position.

A number of other large investors also recently made changes to their positions in EGP. State of Wyoming acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at about $27,000. MAI Capital Management increased its holdings in shares of EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 82 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in shares of EastGroup Properties in the 3rd quarter valued at about $34,000. Parallel Advisors LLC increased its holdings in shares of EastGroup Properties by 53.5% in the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 85 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of EastGroup Properties by 26,500.0% in the 3rd quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Trading Up 0.7%

NYSE:EGP opened at $205.34 on Friday. The stock's 50 day moving average price is $192.79 and its 200 day moving average price is $185.72. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $206.78. The company has a market capitalization of $11.04 billion, a P/E ratio of 37.33, a P/E/G ratio of 3.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. During the same quarter in the prior year, the company posted $2.15 earnings per share. 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. On average, research analysts forecast that EastGroup Properties, Inc. will post 9.56 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $1.55 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.0%. EastGroup Properties's dividend payout ratio is currently 112.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on EastGroup Properties from $205.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday. Piper Sandler upped their target price on EastGroup Properties from $220.00 to $230.00 and gave the company an "overweight" rating in a report on Monday, February 9th. Evercore set a $195.00 target price on EastGroup Properties in a report on Friday, April 24th. Citigroup upped their target price on EastGroup Properties from $210.00 to $220.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Weiss Ratings upgraded EastGroup Properties from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.33.

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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