SG Americas Securities LLC Raises Stock Holdings in EastGroup Properties, Inc. $EGP

SG Americas Securities LLC raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 90.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,466 shares of the real estate investment trust’s stock after purchasing an additional 20,693 shares during the quarter. SG Americas Securities LLC’s holdings in EastGroup Properties were worth $7,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 68 shares during the last quarter. Virtus Investment Advisers LLC increased its stake in shares of EastGroup Properties by 7.5% in the second quarter. Virtus Investment Advisers LLC now owns 999 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 70 shares during the last quarter. UMB Bank n.a. raised its holdings in EastGroup Properties by 4.0% in the second quarter. UMB Bank n.a. now owns 2,029 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 78 shares in the last quarter. True Wealth Design LLC boosted its stake in EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Finally, Securian Asset Management Inc. grew its holdings in EastGroup Properties by 2.5% during the 2nd quarter. Securian Asset Management Inc. now owns 4,045 shares of the real estate investment trust’s stock worth $676,000 after acquiring an additional 100 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

EGP has been the topic of a number of recent analyst reports. Piper Sandler set a $220.00 target price on shares of EastGroup Properties in a research note on Friday, December 12th. Cantor Fitzgerald boosted their price objective on EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EastGroup Properties in a research report on Monday, December 29th. Finally, Robert W. Baird set a $200.00 price target on EastGroup Properties in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and an average target price of $194.41.

EastGroup Properties Stock Down 0.0%

NYSE:EGP opened at $183.85 on Friday. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $179.88 and a 200-day moving average of $172.33. The firm has a market capitalization of $9.81 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 2.69 and a beta of 1.11. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $188.89.

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

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $1.55 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.20 annualized dividend and a yield of 3.4%. EastGroup Properties’s dividend payout ratio (DPR) is currently 130.25%.

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.