IFM Investors Pty Ltd Reduces Position in EastGroup Properties, Inc. $EGP

IFM Investors Pty Ltd trimmed its position in EastGroup Properties, Inc. (NYSE:EGP) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,447 shares of the real estate investment trust’s stock after selling 1,494 shares during the quarter. IFM Investors Pty Ltd’s holdings in EastGroup Properties were worth $1,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in EastGroup Properties in the first quarter valued at approximately $190,456,000. Principal Financial Group Inc. grew its position in EastGroup Properties by 234.7% during the first quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust’s stock valued at $215,267,000 after acquiring an additional 856,971 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of EastGroup Properties by 1,058.6% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock worth $109,443,000 after purchasing an additional 567,678 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 worth $232,184,000 after purchasing an additional 342,620 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in EastGroup Properties by 176.4% in 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 in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Trading Up 1.8%

Shares of NYSE:EGP opened at $168.95 on Tuesday. The company has a market cap of $9.01 billion, a P/E ratio of 36.49, a P/E/G ratio of 3.39 and a beta of 1.01. The stock’s 50-day moving average is $165.41 and its 200-day moving average is $167.19. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $191.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.01. The business had revenue of $177.29 million during the quarter, compared to analysts’ expectations of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 annualized dividend and a 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 research firms have recently issued reports on EGP. Royal Bank Of Canada lowered their price target on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 29th. Wells Fargo & Company set a $215.00 price objective on EastGroup Properties and gave the stock an “overweight” rating in a report on Sunday, July 13th. Morgan Stanley raised their price target on EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. Finally, Evercore ISI upped their price objective on EastGroup Properties from $176.00 to $180.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. 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 stock. According to MarketBeat, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus target price 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.