EastGroup Properties, Inc. $EGP Holdings Lifted by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management massively increased its EastGroup Properties stake in the fourth quarter, lifting holdings by 14,736.8% to 126,558 shares worth about $22.5 million.
• Several other major institutions also added to positions, and institutional investors now own 92.14% of the REIT’s stock.
• EastGroup Properties reported strong quarterly earnings of $1.77 per share, beating estimates, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $205.33.

Northwestern Mutual Wealth Management Co. boosted its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 14,736.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,558 shares of the real estate investment trust's stock after buying an additional 125,705 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.24% of EastGroup Properties worth $22,545,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of EastGroup Properties by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,350,473 shares of the real estate investment trust's stock valued at $1,244,141,000 after purchasing an additional 43,633 shares during the period. State Street Corp boosted its position in shares of EastGroup Properties by 0.6% in the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust's stock valued at $458,320,000 after purchasing an additional 15,918 shares during the period. Principal Financial Group Inc. boosted its position in shares of EastGroup Properties by 16.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust's stock valued at $410,404,000 after purchasing an additional 318,261 shares during the period. Boston Partners boosted its position in shares of EastGroup Properties by 2.1% in the 3rd quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust's stock valued at $203,834,000 after purchasing an additional 25,055 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of EastGroup Properties by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,235 shares of the real estate investment trust's stock valued at $173,533,000 after purchasing an additional 117,597 shares during the period. Institutional investors own 92.14% of the company's stock.

Wall Street Analyst Weigh In

EGP has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $217.00 price target on shares of EastGroup Properties in a research report on Monday, April 27th. Robert W. Baird increased their price target on EastGroup Properties from $208.00 to $210.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Truist Financial increased their price target on EastGroup Properties from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Royal Bank Of Canada increased their price target on EastGroup Properties from $195.00 to $208.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $205.33.

EastGroup Properties Stock Up 0.2%

Shares of EastGroup Properties stock opened at $202.47 on Wednesday. The stock has a 50-day moving average price of $194.31 and a 200 day moving average price of $187.09. The company has a market cap of $10.88 billion, a P/E ratio of 36.81, a P/E/G ratio of 3.04 and a beta of 1.05. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 1 year low of $159.37 and a 1 year high of $206.78.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.50. The firm had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The business's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, analysts expect that EastGroup Properties, Inc. will post 9.56 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. EastGroup Properties's dividend payout ratio is currently 112.73%.

About EastGroup Properties

EastGroup Properties, Inc NYSE: EGP is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company's portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.

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