BROOKFIELD Corp ON Purchases 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 increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2,832.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,429 shares of the real estate investment trust's stock after acquiring an additional 105,697 shares during the quarter. BROOKFIELD Corp ON owned about 0.21% of EastGroup Properties worth $19,276,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Nicola Wealth Management LTD. bought a new position in shares of EastGroup Properties during the 1st quarter worth approximately $705,000. Osterweis Capital Management Inc. raised its stake in shares of EastGroup Properties by 1.3% during the 1st quarter. Osterweis Capital Management Inc. now owns 212,509 shares of the real estate investment trust's stock worth $37,433,000 after acquiring an additional 2,689 shares in the last quarter. Strs Ohio bought a new position in shares of EastGroup Properties during the 1st quarter worth approximately $25,954,000. Focus Partners Wealth raised its stake in shares of EastGroup Properties by 2.2% during the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock worth $1,075,000 after acquiring an additional 130 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of EastGroup Properties by 309.8% during the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust's stock worth $2,797,000 after acquiring an additional 12,003 shares in the last quarter. Institutional investors own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EGP. 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 report on Tuesday. Royal Bank Of Canada cut their price objective on shares of 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, Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. One equities research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $188.25.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $167.67 on Friday. The business's 50 day moving average price is $165.50 and its 200 day moving average price is $168.21. The firm has a market cap of $8.94 billion, a P/E ratio of 36.21, a P/E/G ratio of 3.33 and a beta of 1.01. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.21. 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 issued its earnings results 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. The firm had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.EastGroup Properties's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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, sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

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

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.

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