Envestnet Asset Management Inc. grew its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,641 shares of the real estate investment trust's stock after acquiring an additional 8,701 shares during the quarter. Envestnet Asset Management Inc. owned 0.30% of EastGroup Properties worth $28,121,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Citizens National Bank Trust Department bought a new stake in shares of EastGroup Properties in the first quarter valued at approximately $26,000. Crowley Wealth Management Inc. bought a new stake in shares of EastGroup Properties in the fourth quarter valued at approximately $29,000. Mather Group LLC. boosted its position 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 acquiring an additional 155 shares during the period. Parallel Advisors LLC boosted its position 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 acquiring an additional 337 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 108 shares during the period. 92.14% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently commented on EGP. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday. Robert W. Baird cut 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. Truist Financial cut 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. Piper Sandler cut their target price on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada cut their target price on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $190.00.
Read Our Latest Analysis on EGP
EastGroup Properties Price Performance
Shares of EGP stock traded up $2.86 during trading hours on Friday, hitting $165.21. 186,511 shares of the company's stock were exchanged, compared to its average volume of 384,913. The stock's 50-day moving average is $169.27 and its 200-day moving average is $169.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 3.66 and a beta of 1.01. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61.
EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, topping the consensus estimate of $2.11 by $0.01. The company had revenue of $174.45 million for the quarter, compared to analysts' expectations of $169.67 million. EastGroup Properties had a return on equity of 7.41% and a net margin of 34.60%. The business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. As a group, research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.
EastGroup Properties Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, June 30th. EastGroup Properties's dividend payout ratio is 122.54%.
EastGroup Properties Company Profile
(
Free Report)
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.
Read More
Before you consider EastGroup Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and EastGroup Properties wasn't on the list.
While EastGroup Properties currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
