Cbre Investment Management Listed Real Assets LLC Increases Stake in EastGroup Properties, Inc. $EGP

Cbre Investment Management Listed Real Assets LLC grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 31.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 814,104 shares of the real estate investment trust’s stock after purchasing an additional 192,801 shares during the quarter. EastGroup Properties makes up approximately 2.1% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 13th biggest position. Cbre Investment Management Listed Real Assets LLC owned 1.53% of EastGroup Properties worth $136,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in EGP. Nuveen LLC bought a new stake in EastGroup Properties during the 1st quarter valued at $190,456,000. Price T Rowe Associates Inc. MD increased its position in shares of EastGroup Properties by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock valued at $232,184,000 after acquiring an additional 342,620 shares during the period. Millennium Management LLC raised its stake in shares of EastGroup Properties by 176.4% during the first quarter. Millennium Management LLC now owns 493,144 shares of the real estate investment trust’s stock valued at $86,867,000 after acquiring an additional 314,738 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of EastGroup Properties during the first quarter valued at about $52,065,000. Finally, Deutsche Bank AG boosted its holdings in shares of EastGroup Properties by 46.1% during the first quarter. Deutsche Bank AG now owns 705,834 shares of the real estate investment trust’s stock worth $124,333,000 after purchasing an additional 222,675 shares during the period. Institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EGP shares. Industrial Alliance Securities set a $200.00 price target on EastGroup Properties in a report on Monday, October 27th. Evercore ISI cut their price objective on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a research report on Monday, October 6th. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an “overweight” rating in a report on Sunday, July 13th. Robert W. Baird raised their price target on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and a consensus price target of $191.33.

EastGroup Properties Trading Down 0.2%

EastGroup Properties stock opened at $174.48 on Friday. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $188.89. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 3.67 and a beta of 1.04. The business’s fifty day simple moving average is $171.27 and its two-hundred day simple moving average is $168.42. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (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 company had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same period in the prior year, the firm earned $2.13 EPS. EastGroup Properties’s revenue for the quarter was up 11.8% compared to the same quarter last year. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. As a group, equities analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.55 per share. The ex-dividend date was Tuesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.6%. EastGroup Properties’s dividend payout ratio is currently 130.25%.

EastGroup Properties 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.