EastGroup Properties, Inc. $EGP Shares Bought by Aptus Capital Advisors LLC

Key Points

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Aptus Capital Advisors LLC lifted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 12.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,466 shares of the real estate investment trust's stock after purchasing an additional 4,934 shares during the period. Aptus Capital Advisors LLC owned about 0.08% of EastGroup Properties worth $7,657,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new stake in EastGroup Properties during the 1st quarter valued at about $190,456,000. Principal Financial Group Inc. grew its stake in EastGroup Properties by 234.7% during 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 acquiring an additional 856,971 shares in the last quarter. Northern Trust Corp grew its stake in EastGroup Properties by 91.3% during the 4th quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust's stock valued at $130,189,000 after acquiring an additional 387,134 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in EastGroup Properties during the 1st quarter valued at about $52,065,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in EastGroup Properties by 24.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock valued at $226,888,000 after acquiring an additional 273,217 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on EGP shares. Robert W. Baird dropped their price objective 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 company an "overweight" rating in a report on Sunday, July 13th. Royal Bank Of Canada decreased their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 29th. Raymond James Financial reiterated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Finally, Barclays decreased their target price on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $189.31.

EastGroup Properties Trading Up 3.5%

Shares of EGP stock traded up $5.6730 during trading hours on Friday, hitting $169.4530. The company had a trading volume of 255,177 shares, compared to its average volume of 390,143. The company's fifty day moving average is $166.27 and its 200 day moving average is $169.25. 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, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.21. The stock has a market capitalization of $9.04 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 3.33 and a beta of 0.98.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $175.80 million. During the same period in the prior year, the business posted $2.05 EPS. The business'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. Research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 3.7%. EastGroup Properties's dividend payout ratio is 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.