Ceredex Value Advisors LLC Has $28.33 Million Stake in EastGroup Properties, Inc. $EGP

Key Points

• Ceredex Value Advisors LLC has reduced its stake in EastGroup Properties by 17.2%, selling 33,505 shares during the first quarter, with a current holding of 160,845 shares.
• EastGroup Properties has recently announced a quarterly dividend of $1.55, reflecting an increase from the previous $1.40, with a dividend yield of 3.7%.
• Analysts have mixed ratings on EastGroup Properties, with one Strong Buy, seven Buy, and six Hold ratings, while the average price target is $189.31.

Ceredex Value Advisors LLC decreased its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,845 shares of the real estate investment trust's stock after selling 33,505 shares during the period. Ceredex Value Advisors LLC owned approximately 0.31% of EastGroup Properties worth $28,333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of EGP. Vanguard Group Inc. boosted its stake in shares of EastGroup Properties by 3.0% in the 1st 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 purchasing an additional 207,329 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of EastGroup Properties by 35.1% in the 1st 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 purchasing an additional 342,620 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of EastGroup Properties by 234.7% in the 1st 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 purchasing an additional 856,971 shares in the last quarter. Boston Partners boosted its stake in shares of EastGroup Properties by 13.8% in the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust's stock valued at $211,761,000 after purchasing an additional 146,230 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of EastGroup Properties in the 1st quarter valued at $190,456,000. Institutional investors and hedge funds own 92.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird reduced their price target on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Truist Financial cut their price target on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Raymond James Financial reiterated a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. Finally, 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 note on Tuesday, July 29th. One equities research 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 company's stock. Based on data from MarketBeat, EastGroup Properties has a consensus rating of "Moderate Buy" and an average price target of $189.31.

EastGroup Properties Stock Performance

EGP stock traded up $1.48 during midday trading on Friday, reaching $169.82. 347,683 shares of the company were exchanged, compared to its average volume of 332,618. 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 business has a 50-day moving average price of $166.03 and a two-hundred day moving average price of $168.95. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.21. The firm has a market capitalization 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 0.98.

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 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm had revenue of $177.29 million during the quarter, compared to analysts' expectations of $175.80 million. During the same period in the previous year, the business posted $2.05 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Equities research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The company 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 dividend of $1.55 per share. 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 dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. EastGroup Properties's payout ratio is 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.