US Bancorp DE Sells 989 Shares of EastGroup Properties, Inc. $EGP

US Bancorp DE lessened its position in EastGroup Properties, Inc. (NYSE:EGP) by 17.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,533 shares of the real estate investment trust’s stock after selling 989 shares during the period. US Bancorp DE’s holdings in EastGroup Properties were worth $758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its holdings in EastGroup Properties by 0.9% during the first quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust’s stock valued at $9,447,000 after buying an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in EastGroup Properties by 211.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust’s stock valued at $748,000 after purchasing an additional 2,877 shares during the last quarter. Bessemer Group Inc. lifted 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 purchasing an additional 108 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of EastGroup Properties during the 1st quarter worth about $216,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of EastGroup Properties by 5.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust’s stock worth $28,121,000 after purchasing an additional 8,701 shares during the period. Institutional investors own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EGP shares. Evercore ISI lowered their price objective on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an “overweight” rating in a research note on Sunday, July 13th. Morgan Stanley increased 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 note on Tuesday, September 9th. Royal Bank Of Canada lowered their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $188.31.

EastGroup Properties Trading Up 2.2%

Shares of EGP stock opened at $180.06 on Friday. 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, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $188.89. The stock has a market capitalization of $9.60 billion, a P/E ratio of 38.89, a price-to-earnings-growth ratio of 3.66 and a beta of 1.02. The company has a 50 day moving average price of $167.82 and a 200 day moving average price of $166.33.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 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 during the quarter, compared to analysts’ expectations of $175.80 million. During the same quarter in the previous year, the business posted $2.05 EPS. The firm’s 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. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Tuesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s dividend payout ratio (DPR) is currently 133.91%.

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.