EastGroup Properties, Inc. $EGP Stake Boosted by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,546 shares of the real estate investment trust’s stock after purchasing an additional 540 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in EastGroup Properties were worth $1,329,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EGP. Ameriprise Financial Inc. lifted its stake in EastGroup Properties by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust’s stock valued at $12,232,000 after buying an additional 1,964 shares during the last quarter. Bank of America Corp DE lifted its stake in EastGroup Properties by 8.6% in the fourth quarter. Bank of America Corp DE now owns 442,067 shares of the real estate investment trust’s stock valued at $70,947,000 after buying an additional 34,900 shares during the last quarter. Captrust Financial Advisors lifted its stake in EastGroup Properties by 1.4% in the fourth quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust’s stock valued at $1,347,000 after buying an additional 112 shares during the last quarter. Cetera Investment Advisers lifted its stake in EastGroup Properties by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 119 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in EastGroup Properties by 13.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust’s stock valued at $583,000 after buying an additional 422 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley raised their target price on EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank Of Canada cut their target price on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an “overweight” rating in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.25.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $164.84 on Wednesday. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.21. The firm’s 50-day simple moving average is $165.68 and its 200 day simple moving average is $168.33. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43. The stock has a market cap of $8.79 billion, a P/E ratio of 35.60, a P/E/G ratio of 3.40 and a beta of 1.01.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. The firm had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.EastGroup Properties’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Equities analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 3.8%. EastGroup Properties’s dividend payout ratio is presently 133.91%.

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.