Tributary Capital Management LLC Invests $1.29 Million in EastGroup Properties, Inc. $EGP

Tributary Capital Management LLC purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,644 shares of the real estate investment trust’s stock, valued at approximately $1,294,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of EastGroup Properties during the 2nd quarter worth about $252,405,000. Invesco Ltd. boosted its position in EastGroup Properties by 89.5% during the second quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust’s stock valued at $155,015,000 after purchasing an additional 438,117 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in EastGroup Properties by 31.0% during the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 814,104 shares of the real estate investment trust’s stock valued at $136,053,000 after purchasing an additional 192,801 shares during the last quarter. Strs Ohio bought a new position in EastGroup Properties in the first quarter valued at approximately $25,954,000. Finally, Vanguard Group Inc. increased its position in shares of EastGroup Properties by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,306,840 shares of the real estate investment trust’s stock worth $1,221,119,000 after purchasing an additional 108,561 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 1.4%

Shares of EGP stock opened at $183.51 on Thursday. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $188.89. The company has a market capitalization of $9.79 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.65 and a beta of 1.11. The firm has a 50 day moving average price of $179.54 and a two-hundred day moving average price of $172.18. 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 (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The firm had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. During the same period in the prior year, the company earned $2.13 earnings per share. The business’s quarterly 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 and its Q4 2025 guidance at 2.300-2.340 EPS. As a group, analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $1.55 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.20 annualized dividend and a yield of 3.4%. EastGroup Properties’s payout ratio is 130.25%.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the sale, the executive vice president owned 20,630 shares of the company’s stock, valued at $3,610,250. The trade was a 8.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on EGP. Mizuho reissued a “neutral” rating and issued a $172.00 price objective (down previously from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. BNP Paribas upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target for the company in a research note on Monday, October 27th. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $178.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. UBS Group set a $200.00 target price on shares of EastGroup Properties in a research note on Thursday, December 4th. Finally, Industrial Alliance Securities set a $200.00 price target on EastGroup Properties in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus target price of $194.41.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.