Sumitomo Mitsui Trust Group Inc. Raises Holdings in EastGroup Properties, Inc. $EGP

Sumitomo Mitsui Trust Group Inc. lifted its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,571 shares of the real estate investment trust’s stock after buying an additional 962 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of EastGroup Properties worth $9,621,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EGP. Nuveen LLC purchased a new stake in shares of EastGroup Properties in the first quarter valued at approximately $190,456,000. Principal Financial Group Inc. boosted its stake in shares of 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 buying an additional 856,971 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake 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 valued at $109,443,000 after buying an additional 567,678 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $232,184,000 after buying an additional 342,620 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of 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 buying an additional 314,738 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 1.8%

Shares of NYSE:EGP opened at $173.94 on Thursday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $188.89. The stock’s fifty day simple moving average is $170.37 and its 200-day simple moving average is $167.78. The company has a market capitalization of $9.28 billion, a P/E ratio of 36.54, a P/E/G ratio of 3.74 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same quarter in the prior year, the company earned $2.13 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $1.55 dividend. 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 3.6%. The ex-dividend date was Tuesday, September 30th. EastGroup Properties’s dividend payout ratio (DPR) is currently 130.25%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EGP. BNP Paribas upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target on the stock in a research note on Monday. Morgan Stanley boosted their target price 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. Royal Bank Of Canada set a $183.00 target price on EastGroup Properties and gave the stock a “sector perform” rating in a research report on Tuesday. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Finally, BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $190.93.

EastGroup Properties Company 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.