EastGroup Properties, Inc. $EGP Shares Sold by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC cut its stake in EastGroup Properties, Inc. (NYSE:EGP) by 52.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,275 shares of the real estate investment trust’s stock after selling 1,405 shares during the period. Commonwealth Financial Services LLC’s holdings in EastGroup Properties were worth $213,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EGP. Wealth Enhancement Advisory Services LLC increased its position in EastGroup Properties by 24.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,684 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 334 shares during the period. GAMMA Investing LLC increased its position in EastGroup Properties by 36.3% in the first quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 148 shares during the period. Azzad Asset Management Inc. ADV acquired a new stake in EastGroup Properties in the first quarter worth $385,000. Optas LLC increased its position in EastGroup Properties by 5.1% in the first quarter. Optas LLC now owns 1,397 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 68 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its holdings in shares of EastGroup Properties by 3.6% during the first quarter. Cyndeo Wealth Partners LLC now owns 2,264 shares of the real estate investment trust’s stock valued at $399,000 after purchasing an additional 78 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of EastGroup Properties in a report on Wednesday. Royal Bank Of Canada lowered their price target on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 29th. Evercore ISI lowered their price target on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a report on Monday, October 6th. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the company an “overweight” rating in a report on Sunday, July 13th. Finally, Cantor Fitzgerald assumed coverage on EastGroup Properties in a report on Wednesday, October 1st. They set an “overweight” rating and a $190.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and an average target price of $188.31.

EastGroup Properties Price Performance

NYSE:EGP opened at $166.14 on Friday. The business’s 50-day moving average price is $166.69 and its 200 day moving average price is $166.40. The firm has a market cap of $8.86 billion, a P/E ratio of 35.88, a PEG ratio of 3.38 and a beta of 1.02. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $188.89. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. The firm had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.EastGroup Properties’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 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 Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 3.7%. EastGroup Properties’s dividend payout ratio is presently 133.91%.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.