26,013 Shares in EastGroup Properties, Inc. $EGP Acquired by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC invested approximately $4.58 million in EastGroup Properties, acquiring 26,013 shares of the real estate investment trust during the first quarter.
• EastGroup Properties recently reported earnings of $2.21 EPS for the quarter, surpassing analysts' estimates and showcasing a revenue increase of 11.4% year-over-year.
• Institutional investors collectively own 92.14% of EastGroup Properties' stock, with several large firms boosting their stakes significantly in the recent quarter.

Channing Capital Management LLC acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,013 shares of the real estate investment trust's stock, valued at approximately $4,582,000.

Several other large investors have also bought and sold shares of the business. Citizens National Bank Trust Department bought a new stake in EastGroup Properties in the first quarter valued at approximately $26,000. Assetmark Inc. grew its position in EastGroup Properties by 1,035.7% in the first 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 in the last quarter. Mather Group LLC. grew its position in EastGroup Properties by 74.2% in the first 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 in the last quarter. Parallel Advisors LLC lifted its stake in EastGroup Properties by 387.4% in the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after acquiring an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 108 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EGP shares. Robert W. Baird cut their target price on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Barclays cut their target price on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their target price on shares of 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 investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, EastGroup Properties currently has an average rating of "Moderate Buy" and an average target price of $189.31.

EastGroup Properties Price Performance

EGP stock traded up $0.01 during mid-day trading on Tuesday, hitting $168.37. The stock had a trading volume of 101,390 shares, compared to its average volume of 426,562. 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 52 week low of $137.67 and a 52 week high of $192.21. The firm has a market capitalization of $8.98 billion, a P/E ratio of 36.37, a P/E/G ratio of 3.45 and a beta of 0.98. The firm has a fifty day simple moving average of $166.23 and a 200 day simple moving average of $169.16.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate 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 net margin of 34.85% and a return on equity of 7.29%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. 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 year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. EastGroup Properties's payout ratio is presently 120.95%.

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.