EastGroup Properties, Inc. $EGP Stock Position Lifted by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC increased its holdings in EastGroup Properties by 68.3%, owning approximately 49,327 shares worth $8.69 million as of the latest SEC filing.
• EastGroup Properties has announced a quarterly dividend of $1.55 per share, marking an increase from the previous dividend of $1.40, and a yield of 3.7%.
• Analysts have varying opinions on EastGroup Properties, with target price adjustments leading to an average target price of $189.31 and a consensus rating of "Moderate Buy."

MetLife Investment Management LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 68.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,327 shares of the real estate investment trust's stock after purchasing an additional 20,020 shares during the quarter. MetLife Investment Management LLC owned approximately 0.09% of EastGroup Properties worth $8,689,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Citizens National Bank Trust Department acquired a new stake in shares of EastGroup Properties during the 1st quarter worth approximately $26,000. Assetmark Inc. increased its position in shares of EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 145 shares during the last quarter. Mather Group LLC. increased its position in shares of EastGroup Properties by 74.2% during the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 155 shares during the last quarter. Parallel Advisors LLC grew its position in 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 acquiring an additional 337 shares in the last quarter. Finally, Bessemer Group Inc. boosted 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 buying an additional 108 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Stock Performance

Shares of NYSE:EGP traded up $1.48 during trading on Monday, reaching $169.82. The company had a trading volume of 347,683 shares, compared to its average volume of 325,197. The stock's fifty day moving average price is $165.95 and its 200 day moving average price is $168.80. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week 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 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results 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 return on equity of 7.29% and a net margin of 34.85%.The company had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. During the same period in the previous year, the business earned $2.05 earnings per share. EastGroup Properties's quarterly revenue 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. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EGP shares. Royal Bank Of Canada decreased 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. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Truist Financial decreased their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Robert W. Baird decreased their target price on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company's stock. 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.