UniSuper Management Pty Ltd Acquires 100 Shares of EastGroup Properties, Inc. $EGP

UniSuper Management Pty Ltd raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,900 shares of the real estate investment trust’s stock after purchasing an additional 100 shares during the period. UniSuper Management Pty Ltd’s holdings in EastGroup Properties were worth $2,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGP. Ameriprise Financial Inc. raised its position in EastGroup Properties by 2.6% during the 4th quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust’s stock valued at $12,232,000 after purchasing an additional 1,964 shares during the last quarter. Bank of America Corp DE raised its position in EastGroup Properties by 8.6% during the 4th 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 purchasing an additional 34,900 shares during the last quarter. Captrust Financial Advisors raised its position in EastGroup Properties by 1.4% during the 4th quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust’s stock valued at $1,347,000 after purchasing an additional 112 shares during the last quarter. Cetera Investment Advisers raised its position in EastGroup Properties by 4.0% during the 4th quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 119 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in EastGroup Properties by 13.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust’s stock valued at $583,000 after purchasing an additional 422 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 1.3%

EGP opened at $164.84 on Wednesday. The stock has a market cap of $8.79 billion, a PE ratio of 35.60, a PEG ratio of 3.40 and a beta of 1.01. 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 business has a 50 day moving average of $165.68 and a 200-day moving average of $168.33. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.21.

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

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s dividend payout ratio (DPR) is currently 133.91%.

Wall Street Analyst Weigh In

A number of research firms have commented on EGP. Morgan Stanley upped their price target on EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research report on Tuesday. Royal Bank Of Canada decreased their target price on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research report 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 analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.25.

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.