Atria Investments Inc Sells 780 Shares of EastGroup Properties, Inc. $EGP

Atria Investments Inc lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 9.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,573 shares of the real estate investment trust’s stock after selling 780 shares during the period. Atria Investments Inc’s holdings in EastGroup Properties were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in EastGroup Properties by 1,035.7% in the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank purchased a new stake in EastGroup Properties in the second quarter worth approximately $111,000. Jones Financial Companies Lllp boosted its holdings in EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares during the last quarter. Choreo LLC purchased a new stake in EastGroup Properties in the first quarter worth approximately $203,000. Finally, Covestor Ltd boosted its holdings in EastGroup Properties by 5.6% in the first quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Down 0.1%

Shares of EGP stock opened at $174.88 on Thursday. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 3.67 and a beta of 1.02. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $188.89. The company’s fifty day moving average price is $171.15 and its 200-day moving average price is $168.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.01). The firm had revenue of $182.14 million for the quarter, compared to the consensus estimate of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. Sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently disclosed 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. This represents a $6.20 annualized dividend and a dividend yield of 3.5%. 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 payout ratio is 130.25%.

Analysts Set New Price Targets

EGP has been the topic of several research reports. 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. Cantor Fitzgerald lifted their price target on shares of EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Royal Bank Of Canada set a $183.00 price target on shares of EastGroup Properties and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. BNP Paribas upgraded shares of 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, October 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of EastGroup Properties in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.33.

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.