Voya Investment Management LLC Acquires 5,172 Shares of EastGroup Properties, Inc. $EGP

Voya Investment Management LLC raised its stake in EastGroup Properties, Inc. (NYSE:EGP) by 29.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,968 shares of the real estate investment trust’s stock after purchasing an additional 5,172 shares during the quarter. Voya Investment Management LLC’s holdings in EastGroup Properties were worth $4,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Citizens National Bank Trust Department bought a new position in EastGroup Properties in the 1st quarter valued at $26,000. Assetmark Inc. grew its holdings in shares of EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 145 shares in the last quarter. Mather Group LLC. grew its stake in EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 155 shares in the last quarter. Parallel Advisors LLC increased its stake in EastGroup Properties by 387.4% in the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in EastGroup Properties by 31.9% during the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 108 shares during the last quarter. 92.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 9th. Royal Bank Of Canada decreased their price objective on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 29th. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an “overweight” rating in a report on Sunday, July 13th. Finally, Evercore ISI boosted their price target on EastGroup Properties from $176.00 to $180.00 and gave the company an “in-line” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus target price of $188.25.

EastGroup Properties Trading Down 1.5%

EastGroup Properties stock opened at $165.91 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43. The company has a market cap of $8.85 billion, a P/E ratio of 35.83, a P/E/G ratio of 3.43 and a beta of 1.01. The business has a 50-day simple moving average of $165.39 and a two-hundred day simple moving average of $167.57. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $191.58.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The business had revenue of $177.29 million during the quarter, compared to analyst estimates of $175.80 million. During the same quarter in the previous year, the company posted $2.05 earnings per share. EastGroup Properties’s revenue for the quarter 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. Analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $1.55 per share. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. EastGroup Properties’s dividend payout ratio (DPR) is 120.95%.

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.