FORA Capital LLC Invests $586,000 in EastGroup Properties, Inc. $EGP

Key Points

• FORA Capital LLC has acquired 3,325 shares of EastGroup Properties, valued at approximately $586,000, indicating growing institutional interest in the company.
• EastGroup Properties recently declared an increase in its quarterly dividend from $1.40 to $1.55, with a dividend yield of 3.7%.
• Analysts have mixed ratings on EastGroup Properties, with a consensus rating of "Moderate Buy" and a target price averaging $189.31.

FORA Capital LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,325 shares of the real estate investment trust's stock, valued at approximately $586,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in EastGroup Properties by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust's stock worth $1,267,977,000 after buying an additional 207,329 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in EastGroup Properties by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust's stock valued at $232,184,000 after purchasing an additional 342,620 shares in the last quarter. Principal Financial Group Inc. raised its position in EastGroup Properties by 234.7% during the first quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust's stock valued at $215,267,000 after purchasing an additional 856,971 shares in the last quarter. Boston Partners raised its position in EastGroup Properties by 13.8% during the first quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust's stock valued at $211,761,000 after purchasing an additional 146,230 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in EastGroup Properties during the first quarter valued at about $190,456,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EGP shares. Truist Financial decreased their price objective on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Robert W. Baird decreased their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada decreased their price objective on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 29th. Wells Fargo & Company set a $215.00 price objective on EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $189.31.

EastGroup Properties Trading Down 2.5%

Shares of NYSE:EGP traded down $4.17 on Tuesday, hitting $165.40. The company had a trading volume of 107,492 shares, compared to its average volume of 425,119. The firm's 50-day simple moving average is $165.95 and its two-hundred day simple moving average is $168.80. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.21. 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 firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 3.45 and a beta of 1.01.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm had revenue of $177.29 million during the quarter, compared to analysts' expectations of $175.80 million. During the same period last year, the company posted $2.05 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. 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 anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's payout ratio is currently 120.95%.

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.