Envestnet Portfolio Solutions Inc. Raises Holdings in EastGroup Properties, Inc. $EGP

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in EastGroup Properties by 106.3% during Q2, now owning 5,824 shares valued at approximately $973,000.
• EastGroup Properties recently announced an increase in its quarterly dividend to $1.55 per share from the previous $1.40, representing an annual yield of 3.4%.
• Analyst ratings for EastGroup Properties show a consensus of "Moderate Buy" with an average target price of $188.31, following several recent adjustments from major financial institutions.

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 106.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,824 shares of the real estate investment trust's stock after buying an additional 3,001 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in EastGroup Properties were worth $973,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EGP. Citizens National Bank Trust Department purchased a new position in EastGroup Properties during the first quarter valued at approximately $26,000. Assetmark Inc. increased its holdings in EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 145 shares during the period. Mather Group LLC. boosted its stake in 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 in the last quarter. Bessemer Group Inc. boosted 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 valued at $79,000 after acquiring an additional 108 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in EastGroup Properties by 36.3% in the first quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 148 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EGP has been the subject of several recent analyst reports. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th. Morgan Stanley raised their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 9th. Cantor Fitzgerald initiated coverage on shares of EastGroup Properties in a research note on Wednesday, October 1st. They issued an "overweight" rating and a $190.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of EastGroup Properties in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of "Moderate Buy" and an average target price of $188.31.

EastGroup Properties Trading Up 2.2%

NYSE:EGP opened at $180.06 on Friday. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $188.89. The firm has a fifty day simple moving average of $167.82 and a 200-day simple moving average of $166.33. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $9.60 billion, a P/E ratio of 38.89, a PEG ratio of 3.66 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted 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 business had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same period in the previous year, the firm posted $2.05 earnings per share. 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. On average, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $1.55 per share. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Tuesday, September 30th. EastGroup Properties's payout ratio is presently 133.91%.

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.

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