Nisa Investment Advisors LLC Decreases Position in EastGroup Properties, Inc. $EGP

Nisa Investment Advisors LLC lowered its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,611 shares of the real estate investment trust’s stock after selling 217 shares during the period. Nisa Investment Advisors LLC’s holdings in EastGroup Properties were worth $4,318,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of EastGroup Properties by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust’s stock worth $1,267,977,000 after purchasing an additional 207,329 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of EastGroup Properties by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock worth $232,184,000 after purchasing an additional 342,620 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of EastGroup Properties by 234.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust’s stock worth $215,267,000 after purchasing an additional 856,971 shares during the last quarter. Boston Partners increased its stake in shares of EastGroup Properties by 13.8% during the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust’s stock worth $211,761,000 after purchasing an additional 146,230 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of EastGroup Properties during the 1st quarter worth approximately $190,456,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Down 1.0%

Shares of NYSE:EGP opened at $177.10 on Wednesday. The firm has a fifty day moving average price of $170.19 and a two-hundred day moving average price of $167.64. 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, Inc. has a one year low of $137.67 and a one year high of $188.89. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 3.64 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results 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). 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 the consensus estimate of $181.88 million. During the same period in the previous year, the business earned $2.13 earnings per share. The firm’s revenue for the quarter 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. Analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.5%. 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. EastGroup Properties’s payout ratio is 130.25%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EGP shares. Morgan Stanley lifted their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. BNP Paribas upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a research note on Monday. Evercore ISI reduced their price objective on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research note on Monday, October 6th. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the company an “overweight” rating in a research note on Sunday, July 13th. Finally, Cantor Fitzgerald lifted their price objective on shares of EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.93.

About EastGroup Properties

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.