EastGroup Properties, Inc. $EGP Shares Purchased by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 1,058.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 621,303 shares of the real estate investment trust’s stock after purchasing an additional 567,678 shares during the period. EastGroup Properties comprises approximately 1.7% of Cbre Investment Management Listed Real Assets LLC’s holdings, making the stock its 16th largest position. Cbre Investment Management Listed Real Assets LLC’s holdings in EastGroup Properties were worth $109,443,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department acquired a new stake in EastGroup Properties in the first quarter valued at about $26,000. Assetmark Inc. lifted its position in EastGroup Properties by 1,035.7% in the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 145 shares during the period. Mather Group LLC. lifted its position in EastGroup Properties by 74.2% in the first quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 155 shares during the period. Parallel Advisors LLC lifted its position in EastGroup Properties by 387.4% in the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 337 shares during the period. Finally, Bessemer Group Inc. lifted its position in EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analysts Set New Price Targets

EGP has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Sunday, April 27th. Royal Bank Of Canada dropped their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a report on Tuesday, July 29th. Truist Financial dropped their target price on shares of EastGroup Properties from $180.00 to $177.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the company an “overweight” rating in a report on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $189.31.

EastGroup Properties Trading Up 3.5%

Shares of EGP opened at $169.4530 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a 50 day simple moving average of $166.27 and a 200-day simple moving average of $169.25. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.21. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 3.33 and a beta of 0.98.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business had revenue of $177.29 million during the quarter, compared to analysts’ expectations of $175.80 million. During the same period last year, the company posted $2.05 EPS. The company’s revenue was up 11.4% on a year-over-year basis. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Equities analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s dividend payout ratio (DPR) is 120.95%.

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.