4,071 Shares in EastGroup Properties, Inc. $EGP Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. purchased a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,071 shares of the real estate investment trust's stock, valued at approximately $680,000.

Several other hedge funds have also modified their holdings of the stock. Citizens National Bank Trust Department acquired a new position in EastGroup Properties during the 1st quarter worth $26,000. Assetmark Inc. boosted its stake in shares of EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 145 shares during the period. Mather Group LLC. grew its position in shares of EastGroup Properties by 74.2% during the first quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after buying an additional 155 shares in the last quarter. Bessemer Group Inc. grew its position in shares of EastGroup Properties by 31.9% during the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after buying an additional 108 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of EastGroup Properties by 36.3% during the first quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust's stock worth $98,000 after buying an additional 148 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of EastGroup Properties in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a report on Tuesday, September 9th. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Cantor Fitzgerald assumed coverage on EastGroup Properties in a research report on Wednesday, October 1st. They set an "overweight" rating and a $190.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $186.58.

EastGroup Properties Price Performance

Shares of EGP opened at $177.48 on Friday. The firm has a fifty day moving average price of $169.62 and a 200 day moving average price of $167.24. The stock has a market cap of $9.46 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 3.61 and a beta of 1.02. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $188.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($0.01). The firm had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. EastGroup Properties had a return on equity of 7.36% and a net margin of 35.58%.The firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 EPS. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. As a group, sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, September 30th. EastGroup Properties's payout ratio is 130.25%.

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.

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