Walleye Capital LLC Makes New $1.13 Million Investment in EastGroup Properties, Inc. $EGP

Key Points

• Walleye Capital LLC purchased 6,440 shares of EastGroup Properties, Inc., valued at approximately $1,134,000, during the first quarter.
• EastGroup Properties announced a quarterly dividend increase to $1.55, resulting in an annualized dividend of $6.20 and a dividend yield of 3.7%.
• Analysts have given EastGroup Properties a consensus rating of “Moderate Buy”, with an average target price of $189.31.

Walleye Capital LLC acquired a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,440 shares of the real estate investment trust's stock, valued at approximately $1,134,000.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in shares of EastGroup Properties by 3.1% in the fourth quarter. First Trust Advisors LP now owns 23,541 shares of the real estate investment trust's stock worth $3,778,000 after buying an additional 710 shares during the period. Stifel Financial Corp raised its stake in shares of EastGroup Properties by 7.6% during the fourth quarter. Stifel Financial Corp now owns 13,646 shares of the real estate investment trust's stock valued at $2,190,000 after purchasing an additional 963 shares during the period. Northern Trust Corp raised its stake in shares of EastGroup Properties by 91.3% during the fourth quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust's stock valued at $130,189,000 after purchasing an additional 387,134 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of EastGroup Properties by 11.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,941 shares of the real estate investment trust's stock worth $4,324,000 after purchasing an additional 2,862 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in shares of EastGroup Properties by 22.3% in the fourth quarter. Aptus Capital Advisors LLC now owns 38,532 shares of the real estate investment trust's stock valued at $6,184,000 after purchasing an additional 7,030 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Up 0.2%

Shares of EGP stock traded up $0.30 on Thursday, reaching $166.39. 227,681 shares of the company's stock traded hands, compared to its average volume of 424,165. The company has a market capitalization of $8.87 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 3.45 and a beta of 1.01. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. The business's 50 day moving average price is $165.75 and its two-hundred day moving average price is $168.76.

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

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's dividend payout ratio is presently 133.91%.

Analysts Set New Price Targets

EGP has been the topic of several recent analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Robert W. Baird cut their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Finally, Royal Bank Of Canada lowered their price target on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six 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 $189.31.

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.