EastGroup Properties, Inc. $EGP Holdings Boosted by Aptus Capital Advisors LLC

Key Points

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Aptus Capital Advisors LLC boosted its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and 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 approximately 0.08% of EastGroup Properties worth $7,657,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department acquired a new stake in EastGroup Properties in the 1st quarter valued at $26,000. Assetmark Inc. increased its holdings in EastGroup Properties by 1,035.7% in the 1st 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. increased its holdings in EastGroup Properties by 74.2% in the 1st 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 increased its holdings 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 purchasing an additional 337 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in 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 purchasing an additional 108 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EGP has been the subject of several recent analyst reports. Royal Bank Of Canada lowered 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. Robert W. Baird lowered 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. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Truist Financial lowered 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. Finally, Barclays lowered their target price on 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, EastGroup Properties has an average rating of "Moderate Buy" and a consensus price target of $189.31.

EastGroup Properties Stock Up 3.5%

NYSE:EGP traded up $5.6730 during mid-day trading on Friday, reaching $169.4530. The stock had a trading volume of 255,177 shares, compared to its average volume of 379,792. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 3.45 and a beta of 0.98. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.21. The stock's 50 day simple moving average is $166.27 and its two-hundred day simple moving average is $169.20. 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 quarterly 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. The business had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Equities analysts anticipate 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. Investors of record on Tuesday, September 30th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.7%. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's dividend payout ratio (DPR) 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.