Vestmark Advisory Solutions Inc. Boosts Holdings in EastGroup Properties, Inc. $EGP

Key Points

• Vestmark Advisory Solutions Inc. increased its position in EastGroup Properties by 67.2%, owning 6,850 shares valued at $1,207,000 as of the latest quarter.
• The company reported $2.21 EPS in its latest earnings, exceeding analysts' expectations, with revenue increasing 11.4% year-over-year.
• EastGroup Properties announced a quarterly dividend of $1.40 per share, resulting in a 3.4% dividend yield with a payout ratio of 120.95%.

Vestmark Advisory Solutions Inc. boosted its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 67.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,850 shares of the real estate investment trust's stock after purchasing an additional 2,752 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in EastGroup Properties were worth $1,207,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EGP. Citizens National Bank Trust Department purchased a new stake in EastGroup Properties during the 1st quarter worth about $26,000. Assetmark Inc. lifted 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 worth $28,000 after buying an additional 145 shares during the period. Mather Group LLC. lifted its stake in shares of 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 during the period. Parallel Advisors LLC lifted its stake in shares of 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 during the period. Finally, Bessemer Group Inc. raised its stake in EastGroup Properties by 31.9% during the first 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 last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Truist Financial dropped their target price on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a report on Monday, May 5th. Robert W. Baird decreased their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wall Street Zen upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. One equities research 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $189.31.

EastGroup Properties Stock Up 3.2%

NYSE:EGP traded up $5.3160 during trading hours on Friday, reaching $169.0960. The company's stock had a trading volume of 37,514 shares, compared to its average volume of 428,491. The stock has a 50 day moving average price of $166.30 and a two-hundred day moving average price of $169.26. The company has a market capitalization of $9.02 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 3.36 and a beta of 0.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (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 business had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. During the same period in the prior year, the firm posted $2.05 earnings per share. The business's quarterly revenue 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. Equities analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

About EastGroup Properties

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.