EastGroup Properties, Inc. $EGP Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,764 shares of the real estate investment trust’s stock after buying an additional 1,991 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of EastGroup Properties worth $6,311,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in EastGroup Properties by 2.4% in the first quarter. Summit Investment Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $1,800,000 after acquiring an additional 238 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of EastGroup Properties by 32.0% in the 2nd quarter. Metis Global Partners LLC now owns 8,685 shares of the real estate investment trust’s stock worth $1,451,000 after purchasing an additional 2,107 shares during the period. Aew Capital Management L P lifted its stake in shares of EastGroup Properties by 27.9% in the 2nd quarter. Aew Capital Management L P now owns 90,699 shares of the real estate investment trust’s stock valued at $15,158,000 after purchasing an additional 19,760 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of EastGroup Properties by 51.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 284 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in EastGroup Properties by 31.0% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 814,104 shares of the real estate investment trust’s stock worth $136,053,000 after purchasing an additional 192,801 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

Shares of EGP stock opened at $177.87 on Thursday. The company has a market capitalization of $9.49 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 3.67 and a beta of 1.04. The firm has a fifty day simple moving average of $172.08 and a 200-day simple moving average of $168.97. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $188.89.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results 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 return on equity of 7.28% and a net margin of 35.58%.The firm had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. During the same period last year, the firm earned $2.13 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. Equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.5%. EastGroup Properties’s dividend payout ratio is presently 130.25%.

Insider Activity at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EGP shares. Industrial Alliance Securities set a $200.00 price target on shares of EastGroup Properties in a research report on Monday, October 27th. BNP Paribas raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price on the stock in a research note on Monday, October 27th. BNP Paribas Exane upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price on the stock in a report on Monday, October 27th. Evercore ISI lowered their price target on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a report on Monday, October 6th. Finally, Royal Bank Of Canada set a $183.00 price objective on EastGroup Properties and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.80.

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.