Royal Bank of Canada Increases Stake in EastGroup Properties, Inc. $EGP

Royal Bank of Canada grew its position in EastGroup Properties, Inc. (NYSE:EGP) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,313 shares of the real estate investment trust’s stock after acquiring an additional 2,353 shares during the quarter. Royal Bank of Canada owned about 0.11% of EastGroup Properties worth $10,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citizens National Bank Trust Department purchased a new stake in shares of EastGroup Properties in the first quarter valued at $26,000. Assetmark Inc. raised its stake in shares of 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 acquiring an additional 145 shares during the period. Mather Group LLC. grew its holdings in shares of EastGroup Properties by 74.2% in the first quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 155 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of EastGroup Properties by 387.4% in the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Up 2.6%

Shares of EastGroup Properties stock opened at $167.67 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. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.21. The firm’s 50-day moving average is $165.50 and its two-hundred day moving average is $168.21. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.33 and a beta of 1.01.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $175.80 million. During the same period in the prior year, the business earned $2.05 EPS. The firm’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. As a group, research analysts expect 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 will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $1.55 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is 120.95%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EGP. 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 on the stock in a research note on Tuesday, July 29th. Morgan Stanley upped their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an “overweight” rating in a research note on Sunday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $188.25.

About EastGroup Properties

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.