Amundi Buys 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 lifted its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,169 shares of the real estate investment trust's stock after purchasing an additional 1,820 shares during the period. Amundi owned 0.05% of EastGroup Properties worth $4,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EGP. Ameriprise Financial Inc. lifted its stake in EastGroup Properties by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust's stock valued at $12,232,000 after buying an additional 1,964 shares during the period. Captrust Financial Advisors raised its position in shares of EastGroup Properties by 1.4% in the 4th quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust's stock valued at $1,347,000 after acquiring an additional 112 shares during the period. Cetera Investment Advisers raised its position in shares of EastGroup Properties by 4.0% in the 4th quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust's stock valued at $495,000 after acquiring an additional 119 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in EastGroup Properties by 13.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust's stock worth $583,000 after acquiring an additional 422 shares during the last quarter. Finally, Ethic Inc. grew its holdings in EastGroup Properties by 18.9% during the fourth quarter. Ethic Inc. now owns 1,659 shares of the real estate investment trust's stock valued at $266,000 after purchasing an additional 264 shares during the period. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Up 0.1%

Shares of NYSE:EGP traded up $0.09 during mid-day trading on Tuesday, reaching $166.83. 407,207 shares of the stock were exchanged, compared to its average volume of 361,413. The stock's 50 day simple moving average is $165.41 and its 200-day simple moving average is $167.82. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.21. The company has a market cap of $8.90 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.40 and a beta of 1.01. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates 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 prior year, the firm posted $2.05 EPS. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 30th. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's dividend payout ratio (DPR) is presently 120.95%.

Analysts Set New Price Targets

Several research firms have weighed in on EGP. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Morgan Stanley upped their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. Royal Bank Of Canada reduced their target price 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. Finally, Evercore ISI raised their price target on EastGroup Properties from $176.00 to $180.00 and gave the stock an "in-line" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently 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.