Maryland State Retirement & Pension System Raises Stock Holdings in EastGroup Properties, Inc. $EGP

Maryland State Retirement & Pension System boosted its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 10.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,534 shares of the real estate investment trust’s stock after purchasing an additional 238 shares during the period. Maryland State Retirement & Pension System’s holdings in EastGroup Properties were worth $423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Optas LLC raised its position in shares of EastGroup Properties by 114.0% during the 2nd quarter. Optas LLC now owns 2,989 shares of the real estate investment trust’s stock worth $500,000 after purchasing an additional 1,592 shares during the period. Louisiana State Employees Retirement System boosted its stake in EastGroup Properties by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the real estate investment trust’s stock valued at $2,473,000 after purchasing an additional 200 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in EastGroup Properties by 12.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,900 shares of the real estate investment trust’s stock valued at $1,835,000 after purchasing an additional 1,200 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in EastGroup Properties during the 2nd quarter valued at $1,676,000. Finally, Hilltop National Bank purchased a new stake in shares of EastGroup Properties in the second quarter valued at $111,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $169.02 on Tuesday. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $188.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $9.01 billion, a P/E ratio of 36.51, a P/E/G ratio of 3.38 and a beta of 1.02. The company’s 50 day moving average price is $166.80 and its two-hundred day moving average price is $166.28.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.01. The firm had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $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. On average, equities analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share 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. Shareholders of record on Tuesday, September 30th will be paid a $1.55 dividend. 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. The ex-dividend date of this dividend is Tuesday, September 30th. EastGroup Properties’s payout ratio is presently 133.91%.

Analysts Set New Price Targets

Several research firms have weighed in on EGP. Evercore ISI cut their target price on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. 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. Finally, Royal Bank Of Canada decreased their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.31.

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.