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

Key Points

• CBRE Investment Management increased its stake in EastGroup Properties by 5.1% in the fourth quarter, bringing its holdings to 711,109 shares worth about $126.7 million. The REIT now represents roughly 1.9% of the fund’s portfolio.
• EastGroup Properties shares fell 3.3% to $195.33, though the stock remains near the middle of its 52-week range. The company’s market cap is about $10.5 billion.
• Quarterly results and dividend showed EPS of $1.77, beating estimates, while revenue came in slightly below expectations at $190.26 million. EastGroup also declared a $1.55 quarterly dividend, equal to a 3.2% annualized yield.

Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 711,109 shares of the real estate investment trust's stock after buying an additional 34,515 shares during the period. EastGroup Properties makes up about 1.9% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 20th largest holding. Cbre Investment Management Listed Real Assets LLC owned about 1.33% of EastGroup Properties worth $126,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGP. Vanguard Group Inc. increased its holdings in shares of EastGroup Properties by 0.6% in the third 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 buying an additional 43,633 shares in the last quarter. State Street Corp boosted its holdings in EastGroup Properties by 0.6% in the third quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust's stock worth $458,320,000 after purchasing an additional 15,918 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in EastGroup Properties by 16.0% during the fourth 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 acquiring an additional 318,261 shares during the period. Norges Bank bought a new stake in EastGroup Properties during the fourth quarter valued at about $281,054,000. Finally, Boston Partners raised its position in shares of EastGroup Properties by 2.1% during the third quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust's stock valued at $203,834,000 after buying an additional 25,055 shares during the last quarter. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Trading Down 3.3%

Shares of NYSE:EGP opened at $195.33 on Tuesday. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $207.72. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The company's fifty day simple moving average is $196.96 and its 200 day simple moving average is $188.86. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 3.03 and a beta of 1.04.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same period in the previous year, the business earned $2.15 EPS. The company's revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, research analysts forecast that EastGroup Properties, Inc. will post 9.57 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties's payout ratio is presently 112.73%.

Analyst Ratings Changes

EGP has been the subject of several recent research reports. Robert W. Baird increased their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Citigroup increased their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Morgan Stanley raised their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 27th. Wells Fargo & Company raised their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an "overweight" rating in a research note on Monday. Finally, KeyCorp increased their target price on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $208.07.

EastGroup Properties Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.