HighTower Advisors LLC Increases Stock Position in EastGroup Properties, Inc. $EGP

HighTower Advisors LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 14.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,029 shares of the real estate investment trust’s stock after acquiring an additional 379 shares during the period. HighTower Advisors LLC’s holdings in EastGroup Properties were worth $534,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of EastGroup Properties during the first quarter worth about $190,456,000. Virtu Financial LLC increased its holdings in EastGroup Properties by 268.7% during the 1st quarter. Virtu Financial LLC now owns 6,271 shares of the real estate investment trust’s stock valued at $1,105,000 after purchasing an additional 4,570 shares during the period. Covestor Ltd raised its position in EastGroup Properties by 5.6% during the 1st quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 62 shares during the last quarter. Davis Selected Advisers lifted its holdings in EastGroup Properties by 0.7% in the 1st quarter. Davis Selected Advisers now owns 44,750 shares of the real estate investment trust’s stock worth $7,883,000 after buying an additional 310 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in EastGroup Properties by 9.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 35,773 shares of the real estate investment trust’s stock worth $6,301,000 after buying an additional 3,122 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $169.82 on Friday. The company’s fifty day moving average price is $166.03 and its 200-day moving average price is $168.95. The stock has a market cap of $9.06 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 3.45 and a beta of 0.98. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.21.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating 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 company 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. EastGroup Properties’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. On average, equities analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $1.55 dividend. 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%. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s payout ratio is presently 120.95%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial reissued a “strong-buy” rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an “overweight” rating in a report on Sunday, July 13th. Truist Financial reduced their price objective on shares of EastGroup Properties from $180.00 to $177.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Robert W. Baird dropped their target price on shares of EastGroup Properties from $194.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.31.

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.