Adelante Capital Management LLC Trims Holdings in EastGroup Properties, Inc. $EGP

Key Points

• Adelante Capital Management LLC reduced its stake in EastGroup Properties by 22.1%, selling 47,640 shares but still holding 168,269 shares as of the latest SEC filing.
• EastGroup Properties has increased its quarterly dividend from $1.40 to $1.55, with a projected annualized yield of 3.7%.
• Analysts have a consensus rating of "Moderate Buy" on EastGroup Properties, with a target price average of $188.42.

Adelante Capital Management LLC lessened its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 22.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,269 shares of the real estate investment trust's stock after selling 47,640 shares during the period. EastGroup Properties makes up about 2.1% of Adelante Capital Management LLC's holdings, making the stock its 16th biggest holding. Adelante Capital Management LLC owned 0.32% of EastGroup Properties worth $29,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Citizens National Bank Trust Department bought a new stake in shares of EastGroup Properties during the 1st quarter worth $26,000. Assetmark Inc. raised its position in EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 145 shares in the last quarter. Mather Group LLC. lifted its stake in 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 purchasing an additional 155 shares during the last quarter. Parallel Advisors LLC lifted its stake in EastGroup Properties by 387.4% during the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of research reports. 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. Royal Bank Of Canada reduced their price target on shares of 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. Finally, Morgan Stanley boosted their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.25.

EastGroup Properties Trading Down 1.3%

EGP stock traded down $2.13 during trading on Tuesday, hitting $164.84. 618,261 shares of the company traded hands, compared to its average volume of 332,866. The company has a 50-day moving average of $165.68 and a 200-day moving average of $168.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.21. The firm has a market capitalization of $8.79 billion, a PE ratio of 35.60, a P/E/G ratio of 3.40 and a beta of 1.01.

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 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.01. The firm had revenue of $177.29 million during 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 business's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 dividend on an annualized basis and a yield of 3.8%. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's dividend payout ratio (DPR) 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.