EastGroup Properties, Inc. $EGP Shares Purchased by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC significantly increased its holdings in EastGroup Properties by 1,058.6% during the first quarter, owning approximately 621,303 shares valued at about $109.4 million.
• EastGroup Properties announced a quarterly dividend increase from $1.40 to $1.55 per share, reflecting a 3.7% dividend yield with a payout ratio of 120.95%.
• Analysts maintain a consensus rating of "Moderate Buy" for EastGroup Properties, with an average target price of $189.31, despite some recent price target reductions.

Cbre Investment Management Listed Real Assets LLC increased its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1,058.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 621,303 shares of the real estate investment trust's stock after acquiring an additional 567,678 shares during the period. EastGroup Properties makes up about 1.7% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 16th largest holding. Cbre Investment Management Listed Real Assets LLC owned approximately 1.18% of EastGroup Properties worth $109,443,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EGP. Vanguard Group Inc. raised its stake in shares of EastGroup Properties by 3.0% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of EastGroup Properties by 35.1% in the first 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 in the last quarter. Principal Financial Group Inc. raised its stake in EastGroup Properties by 234.7% in the first 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 buying an additional 856,971 shares in the last quarter. Boston Partners raised its stake in EastGroup Properties by 13.8% in the first quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust's stock valued at $211,761,000 after buying an additional 146,230 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in EastGroup Properties in the first quarter valued at $190,456,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Performance

Shares of NYSE EGP traded up $1.84 during midday trading on Wednesday, reaching $168.93. 451,866 shares of the company were exchanged, compared to its average volume of 428,306. The company has a current ratio of 0.16, a quick 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 fifty day simple moving average of $166.17 and a 200 day simple moving average of $169.14. The stock has a market cap of $9.01 billion, a P/E ratio of 36.49, a PEG ratio of 3.43 and a beta of 0.98.

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, topping 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 firm had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. During the same quarter last year, the company posted $2.05 earnings per share. The business's 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. On average, research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, September 30th. 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%. EastGroup Properties's payout ratio is 120.95%.

Wall Street Analyst Weigh In

EGP has been the topic of a number of analyst reports. Barclays cut their price target on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird cut their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada cut their price target on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th. Finally, Truist Financial cut their price target on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.31.

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.