Amundi Acquires 1,820 Shares of EastGroup Properties, Inc. $EGP

Key Points

• Amundi increased its stake in EastGroup Properties, Inc. by 6.9%, now owning 28,169 shares valued at approximately $4.67 million.
• EastGroup Properties plans to pay a quarterly dividend of $1.55 per share, an increase from the previous $1.40, representing an annual yield of 3.8%.
• Several investment firms have adjusted their price targets for EastGroup Properties, with Wells Fargo setting a target of $215.00 and analysts maintaining an average target price of $188.25.

Amundi increased its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,169 shares of the real estate investment trust's stock after purchasing an additional 1,820 shares during the period. Amundi owned approximately 0.05% of EastGroup Properties worth $4,670,000 as of its most recent filing with the Securities and Exchange Commission.

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

EastGroup Properties Stock Performance

NYSE:EGP traded down $0.73 during mid-day trading on Friday, hitting $166.94. The stock had a trading volume of 393,453 shares, compared to its average volume of 362,123. The company's 50 day simple moving average is $165.45 and its 200 day simple moving average is $168.10. 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 stock has a market cap of $8.90 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 3.42 and a beta of 1.01. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping 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 net margin of 34.85% and a return on equity of 7.29%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business 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. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.7%. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date is Tuesday, September 30th. EastGroup Properties's dividend payout ratio (DPR) is 133.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EGP shares. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Royal Bank Of Canada reduced their price objective 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. Finally, Morgan Stanley increased their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, EastGroup Properties has a consensus rating of "Moderate Buy" and a consensus target price of $188.25.

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.