EastGroup Properties, Inc. $EGP Shares Purchased by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC increased its stake in EastGroup Properties by 3.3%, owning 140,888 shares worth approximately $24.9 million at the end of the first quarter.
• Despite minor price target adjustments from various analysts, EastGroup Properties has a consensus rating of "Moderate Buy" and an average price target of $189.31.
• The company announced a quarterly dividend increase to $1.55, representing a 3.7% yield, scheduled to be paid on October 15th.

Curi RMB Capital LLC raised its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,888 shares of the real estate investment trust's stock after acquiring an additional 4,515 shares during the period. Curi RMB Capital LLC owned approximately 0.27% of EastGroup Properties worth $24,947,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Citizens National Bank Trust Department acquired a new stake in shares of EastGroup Properties during the first quarter valued at about $26,000. Assetmark Inc. grew its holdings in shares of EastGroup Properties by 1,035.7% in the first 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. grew its holdings in shares of EastGroup Properties by 74.2% in the first 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 grew its holdings in shares of EastGroup Properties by 387.4% in the first 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. lifted its stake in EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 108 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EGP shares. Royal Bank Of Canada decreased their price target on shares of 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. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the stock an "overweight" rating in a research report on Sunday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.42.

EastGroup Properties Stock Performance

EGP traded down $1.43 during trading on Monday, hitting $166.74. The stock had a trading volume of 657,684 shares, compared to its average volume of 428,638. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $8.89 billion, a P/E ratio of 36.01, a PEG ratio of 3.42 and a beta of 1.01. The company's 50-day moving average price is $165.75 and its 200 day moving average price is $168.44. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.21.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business had revenue of $177.29 million for the quarter, compared to analysts' expectations of $175.80 million. During the same period in the prior year, the company posted $2.05 EPS. The business's revenue for the quarter was up 11.4% on a year-over-year basis. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. On average, equities research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. 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.