Groupe la Francaise acquired a new position in EastGroup Properties, Inc. (NYSE:EGP – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 3,002 shares of the real estate investment trust’s stock, valued at approximately $608,000.
A number of other hedge funds have also recently made changes to their positions in EGP. Cbre Investment Management Listed Real Assets LLC lifted its stake in EastGroup Properties by 5.1% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock worth $126,677,000 after acquiring an additional 34,515 shares in the last quarter. Corient Private Wealth LLC grew its position in EastGroup Properties by 22.1% in the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock valued at $5,260,000 after acquiring an additional 5,341 shares in the last quarter. California State Teachers Retirement System increased its stake in EastGroup Properties by 22.7% during the first quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock worth $11,493,000 after purchasing an additional 11,504 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of EastGroup Properties during the second quarter worth about $3,753,000. Finally, Heartland Advisors Inc. grew its holdings in shares of EastGroup Properties by 13.7% in the fourth quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust’s stock valued at $7,607,000 after purchasing an additional 5,160 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Citigroup boosted their price target on shares of EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. BTIG Research upped their price objective on EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Evercore set a $206.00 price objective on EastGroup Properties in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of EastGroup Properties in a report on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.68.
EastGroup Properties Stock Up 0.8%
Shares of EastGroup Properties stock opened at $200.23 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. EastGroup Properties, Inc. has a 52-week low of $163.10 and a 52-week high of $226.71. The company has a market capitalization of $10.77 billion, a P/E ratio of 35.13, a P/E/G ratio of 2.89 and a beta of 1.01. The company has a 50 day moving average of $206.81 and a 200 day moving average of $200.32.
EastGroup Properties (NYSE:EGP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. During the same period in the prior year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, research analysts forecast that EastGroup Properties, Inc. will post 9.6 EPS for the current fiscal year.
EastGroup Properties Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.5%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, September 30th. EastGroup Properties’s dividend payout ratio is currently 122.81%.
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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