Cbre Investment Management Listed Real Assets LLC Boosts Stake in EastGroup Properties, Inc. $EGP

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 grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1,058.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 621,303 shares of the real estate investment trust's stock after purchasing an additional 567,678 shares during the quarter. EastGroup Properties makes up about 1.7% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 16th largest position. Cbre Investment Management Listed Real Assets LLC owned 1.18% of EastGroup Properties worth $109,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EGP. Citizens National Bank Trust Department purchased a new stake in EastGroup Properties in the 1st quarter worth approximately $26,000. Assetmark Inc. lifted its stake in shares of EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 145 shares during the period. Mather Group LLC. lifted its stake in shares of EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 155 shares during the period. Parallel Advisors LLC lifted its stake in shares of EastGroup Properties by 387.4% in the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 337 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

NYSE:EGP traded down $1.95 during mid-day trading on Thursday, hitting $166.82. 88,564 shares of the company traded hands, compared to its average volume of 426,214. The stock's fifty day moving average price is $166.13 and its 200-day moving average price is $169.14. EastGroup Properties, Inc. has a one year low of $137.67 and a one year 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. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 3.40 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, 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 during the quarter, compared to analyst estimates of $175.80 million. During the same quarter in the previous year, the company posted $2.05 earnings per share. 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. Research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.55 per share. This is a positive change 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 of this dividend is Tuesday, September 30th. EastGroup Properties's payout ratio is currently 120.95%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EGP shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. Wells Fargo & Company set a $215.00 price objective on EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Barclays reduced their price objective 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. Royal Bank Of Canada reduced their price objective 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. Finally, Robert W. Baird reduced their price objective 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $189.31.

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.