BROOKFIELD Corp ON Acquires 105,697 Shares of EastGroup Properties, Inc. $EGP

Key Points

• BROOKFIELD Corp ON significantly increased its stake in EastGroup Properties, acquiring an additional 105,697 shares, resulting in an ownership of 0.21% of the company worth approximately $19.3 million.
• EastGroup Properties announced an increase in their quarterly dividend from $1.40 to $1.55 per share, reflecting a strong growth in their revenue which was up 11.4% year-over-year.
• Several research firms have recently updated their price targets for EastGroup Properties, with a consensus target price of $188.25 and an average rating of "Moderate Buy."

BROOKFIELD Corp ON grew its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2,832.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 109,429 shares of the real estate investment trust's stock after acquiring an additional 105,697 shares during the period. BROOKFIELD Corp ON owned 0.21% of EastGroup Properties worth $19,276,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. New York State Teachers Retirement System raised its position in EastGroup Properties by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust's stock worth $9,447,000 after purchasing an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in EastGroup Properties by 211.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust's stock worth $748,000 after purchasing an additional 2,877 shares during the last quarter. Bessemer Group Inc. raised its position in EastGroup Properties by 31.9% during 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 during the last quarter. OneDigital Investment Advisors LLC bought a new position in EastGroup Properties during the 1st quarter worth $216,000. Finally, Envestnet Asset Management Inc. raised its position in EastGroup Properties by 5.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust's stock worth $28,121,000 after purchasing an additional 8,701 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Up 0.5%

Shares of EGP traded up $0.80 during trading hours on Wednesday, hitting $167.68. The stock had a trading volume of 67,188 shares, compared to its average volume of 425,807. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a 50 day simple moving average of $165.41 and a 200-day simple moving average of $167.82. The firm has a market capitalization of $8.94 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 3.40 and a beta of 1.01. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.21.

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 (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 business had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same quarter in the previous year, the business earned $2.05 EPS. The company's quarterly revenue was up 11.4% on a year-over-year basis. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $1.55 dividend. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. EastGroup Properties's dividend payout ratio is 120.95%.

Analyst Ratings Changes

Several research analysts recently issued reports on EGP shares. Royal Bank Of Canada lowered their target price on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 29th. Morgan Stanley raised their target price on EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 9th. Evercore ISI raised their target price on EastGroup Properties from $176.00 to $180.00 and gave the stock an "in-line" rating in a research report on Monday. Finally, Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $188.25.

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.