Commonwealth Financial Services LLC Has $213,000 Stock Position in EastGroup Properties, Inc. $EGP

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

A number of other hedge funds and other institutional investors have also modified their holdings of EGP. Citizens National Bank Trust Department acquired a new position in shares of EastGroup Properties in the 1st quarter valued at $26,000. Assetmark Inc. boosted its position in shares of EastGroup Properties by 1,035.7% in the 1st 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. boosted its position in shares of EastGroup Properties by 74.2% in the 1st 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. Bessemer Group Inc. boosted its position in shares of EastGroup Properties by 31.9% in the 1st 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. Finally, GAMMA Investing LLC boosted its position in shares of EastGroup Properties by 36.3% in the 1st quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Down 2.6%

EGP opened at $166.14 on Friday. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $188.89. The business has a 50-day moving average of $166.69 and a 200-day moving average of $166.40. 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 company has a market capitalization of $8.86 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results 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 return on equity of 7.29% and a net margin of 34.85%.The company had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same period last year, the business earned $2.05 EPS. The business’s quarterly 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 research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently declared 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 is a boost from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. EastGroup Properties’s dividend payout ratio (DPR) is 133.91%.

Analyst Ratings Changes

EGP has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the company an “overweight” rating in a research report on Sunday, July 13th. Royal Bank Of Canada decreased their price objective on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 29th. Weiss Ratings restated a “hold (c)” rating on shares of EastGroup Properties in a research report on Wednesday. Evercore ISI decreased their price objective on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Finally, Morgan Stanley raised their price objective on EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.31.

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.