APG Asset Management US Inc. Buys New Shares 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. acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in EastGroup Properties by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust's stock valued at $1,267,977,000 after acquiring an additional 207,329 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $232,184,000 after acquiring an additional 342,620 shares during the last quarter. Principal Financial Group Inc. raised its stake in 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 valued at $215,267,000 after acquiring an additional 856,971 shares during the last quarter. Boston Partners raised its stake in 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 valued at $211,761,000 after acquiring an additional 146,230 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of EastGroup Properties during the 1st quarter worth approximately $190,456,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EGP shares. Robert W. Baird cut their target price 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. Royal Bank Of Canada dropped their price objective 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. Barclays dropped their price target on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Truist Financial decreased their price objective on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, EastGroup Properties has a consensus rating of "Moderate Buy" and a consensus target price of $189.31.

EastGroup Properties Price Performance

EGP traded down $1.73 during trading on Thursday, reaching $167.04. The stock had a trading volume of 74,719 shares, compared to its average volume of 426,101. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 3.40 and a beta of 0.98. 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 1-year low of $137.67 and a 1-year high of $192.21. The stock has a 50 day moving average of $166.13 and a two-hundred day moving average of $169.14.

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, beating 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 company had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same quarter in the prior year, the firm earned $2.05 EPS. The company'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. As a group, equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal 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 paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, September 30th. EastGroup Properties's dividend payout ratio (DPR) is currently 120.95%.

EastGroup Properties Company 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.