APG Asset Management US Inc. Purchases New Stake in EastGroup Properties, Inc. $EGP

Key Points

• APG Asset Management US Inc. acquired a new stake in EastGroup Properties, Inc. by purchasing 89,783 shares valued at approximately $15.81 million, representing about 0.17% of the company's stock.
• EastGroup Properties recently declared a quarterly dividend of $1.55 per share, marking an increase from the previous dividend of $1.40 and resulting in an annualized dividend yield of 3.7%.
• Market analysts have mixed views on EastGroup Properties, with price targets ranging from $182.00 to $215.00, and the company receiving an average rating of "Moderate Buy" with a consensus price target of $189.31.

APG Asset Management US Inc. bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 89,783 shares of the real estate investment trust's stock, valued at approximately $15,810,000. APG Asset Management US Inc. owned about 0.17% of EastGroup Properties at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Covestor Ltd boosted its position in EastGroup Properties by 5.6% during the 1st quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust's stock valued at $205,000 after purchasing an additional 62 shares during the period. Bar Harbor Wealth Management raised its holdings in shares of EastGroup Properties by 0.3% during the first quarter. Bar Harbor Wealth Management now owns 23,344 shares of the real estate investment trust's stock valued at $4,112,000 after buying an additional 66 shares during the last quarter. Optas LLC boosted its position in shares of EastGroup Properties by 5.1% during the first quarter. Optas LLC now owns 1,397 shares of the real estate investment trust's stock worth $246,000 after buying an additional 68 shares during the period. KBC Group NV grew its holdings in EastGroup Properties by 3.5% in the 1st quarter. KBC Group NV now owns 2,058 shares of the real estate investment trust's stock worth $363,000 after buying an additional 69 shares in the last quarter. Finally, Moran Wealth Management LLC increased its position in EastGroup Properties by 1.1% in the 1st quarter. Moran Wealth Management LLC now owns 6,521 shares of the real estate investment trust's stock valued at $1,149,000 after acquiring an additional 73 shares during the period. 92.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird decreased their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Barclays dropped their price target on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Raymond James Financial reiterated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada decreased their price target on 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus price target of $189.31.

EastGroup Properties Price Performance

EGP opened at $169.4530 on Friday. 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, Inc. has a 12-month low of $137.67 and a 12-month high of $192.21. The stock has a fifty day moving average of $166.27 and a 200-day moving average of $169.25. The firm has a market capitalization of $9.04 billion, a P/E ratio of 36.60, a PEG ratio of 3.33 and a beta of 0.98.

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

EastGroup Properties Increases Dividend

The firm 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. This represents a $6.20 dividend on an annualized basis 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 (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.

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