Davis Selected Advisers Raises Holdings in EastGroup Properties, Inc. $EGP

Davis Selected Advisers raised its stake in EastGroup Properties, Inc. (NYSE:EGP) by 3.1% during the second quarter, Holdings Channel.com reports. The firm owned 46,130 shares of the real estate investment trust’s stock after purchasing an additional 1,380 shares during the quarter. Davis Selected Advisers’ holdings in EastGroup Properties were worth $7,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. increased its stake in shares of EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 145 shares during the period. Hilltop National Bank acquired a new position in EastGroup Properties during the 2nd quarter worth approximately $111,000. First Eagle Investment Management LLC increased its position in shares of EastGroup Properties by 51.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 284 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of EastGroup Properties by 18,900.0% in 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 during the last quarter. Finally, Choreo LLC acquired a new stake in shares of EastGroup Properties in the 1st quarter valued at $203,000. 92.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president directly owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

EastGroup Properties Stock Down 0.2%

EastGroup Properties stock opened at $177.58 on Friday. The company has a market capitalization of $9.47 billion, a P/E ratio of 37.31, a PEG ratio of 3.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $188.89. The stock has a 50-day simple moving average of $172.27 and a 200-day simple moving average of $169.03.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same period last year, the firm earned $2.13 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. Equities research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $1.55 dividend. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, September 30th. This represents a $6.20 annualized dividend and a yield of 3.5%. EastGroup Properties’s payout ratio is currently 130.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of EastGroup Properties in a research note on Wednesday, November 5th. Wells Fargo & Company upped their price objective on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI dropped their price objective 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. BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Monday, October 27th. Finally, Royal Bank Of Canada set a $183.00 price target on EastGroup Properties and gave the company a “sector perform” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.80.

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.