Campbell & CO Investment Adviser LLC Sells 2,125 Shares of EastGroup Properties, Inc. $EGP

Key Points

• Campbell & CO Investment Adviser LLC has reduced its stake in EastGroup Properties, Inc. by 18.5%, now holding 9,375 shares valued at approximately $1.65 million after selling 2,125 shares in Q1.
• EastGroup Properties announced a quarterly dividend increase to $1.55, up from $1.40, representing a 3.7% dividend yield with a payout ratio of 120.95%.
• Shares of EastGroup Properties have shown a strong performance, with a current price of approximately $168.23 and a market cap of nearly $9 billion.

Campbell & CO Investment Adviser LLC decreased its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,375 shares of the real estate investment trust's stock after selling 2,125 shares during the period. Campbell & CO Investment Adviser LLC's holdings in EastGroup Properties were worth $1,651,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EGP. Mariner LLC boosted its holdings in EastGroup Properties by 4.7% in the fourth quarter. Mariner LLC now owns 5,516 shares of the real estate investment trust's stock valued at $885,000 after acquiring an additional 246 shares during the last quarter. First Trust Advisors LP boosted its holdings in EastGroup Properties by 3.1% in the fourth quarter. First Trust Advisors LP now owns 23,541 shares of the real estate investment trust's stock valued at $3,778,000 after acquiring an additional 710 shares during the last quarter. Stifel Financial Corp boosted its holdings in EastGroup Properties by 7.6% during the fourth quarter. Stifel Financial Corp now owns 13,646 shares of the real estate investment trust's stock worth $2,190,000 after buying an additional 963 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of EastGroup Properties by 55.1% during the 4th quarter. Hsbc Holdings PLC now owns 80,792 shares of the real estate investment trust's stock worth $12,963,000 after buying an additional 28,718 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in shares of EastGroup Properties during the 4th quarter worth about $282,000. Institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

EGP has been the subject of several analyst reports. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Truist Financial decreased their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Robert W. Baird decreased their target price on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada decreased 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $189.31.

EastGroup Properties Stock Up 0.9%

Shares of NYSE:EGP traded up $1.48 during trading on Friday, hitting $169.82. 347,683 shares of the company's stock traded hands, compared to its average volume of 325,197. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.21. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 3.45 and a beta of 1.01. The company has a 50-day moving average price of $166.03 and a 200-day moving average price of $168.87.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $175.80 million. During the same quarter in the previous year, the business posted $2.05 EPS. EastGroup Properties's revenue for the quarter 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. As a group, research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently announced 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 a positive change from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's dividend payout ratio (DPR) is presently 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.