EastGroup Properties, Inc. $EGP Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,256 shares of the real estate investment trust’s stock after selling 85 shares during the quarter. Fifth Third Bancorp’s holdings in EastGroup Properties were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in EGP. Nuveen LLC acquired a new position in EastGroup Properties in the first quarter valued at $190,456,000. Principal Financial Group Inc. increased its stake in EastGroup Properties by 234.7% in 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 purchasing an additional 856,971 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in 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 valued at $109,443,000 after purchasing an additional 567,678 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in EastGroup Properties by 35.1% during 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 acquiring an additional 342,620 shares during the last quarter. Finally, Millennium Management LLC increased its stake in 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 worth $86,867,000 after acquiring an additional 314,738 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on EGP shares. Morgan Stanley upped their price target on EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. Evercore ISI upped their price target on EastGroup Properties from $176.00 to $180.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Finally, Royal Bank Of Canada dropped their price target on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 29th. One 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’s stock. According to data from MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and an average price target of $188.25.

EastGroup Properties Trading Up 0.0%

NYSE:EGP opened at $169.38 on Wednesday. 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 business’s 50 day moving average is $165.70 and its two-hundred day moving average is $166.76. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $188.89. The company has a market cap of $9.03 billion, a PE ratio of 36.58, a P/E/G ratio of 3.45 and a beta of 1.01.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The company had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. During the same quarter last year, the business posted $2.05 EPS. EastGroup Properties’s quarterly revenue was up 11.4% compared to the same quarter last year. 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, analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current 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 given a dividend of $1.55 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. EastGroup Properties’s payout ratio 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.