Invesco Ltd. Sells 31,928 Shares of EastGroup Properties, Inc. $EGP

Key Points

• Invesco Ltd. reduced its stake in EastGroup Properties by 6.1% in the first quarter, holding approximately 489,449 shares valued at $86.2 million.
• EastGroup Properties reported $2.21 earnings per share for its last quarter, slightly exceeding analysts' expectations, along with a revenue of $177.29 million.
• The company has a dividend yield of 3.4%, with a recent quarterly payment of $1.40 per share, representing a high payout ratio of 120.95%.

Invesco Ltd. lowered its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 489,449 shares of the real estate investment trust's stock after selling 31,928 shares during the period. Invesco Ltd. owned about 0.93% of EastGroup Properties worth $86,216,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EGP. Barclays PLC raised its holdings in shares of EastGroup Properties by 92.1% during the 4th quarter. Barclays PLC now owns 61,581 shares of the real estate investment trust's stock worth $9,883,000 after buying an additional 29,521 shares in the last quarter. Mariner LLC raised its holdings in shares of EastGroup Properties by 4.7% during the 4th quarter. Mariner LLC now owns 5,516 shares of the real estate investment trust's stock worth $885,000 after buying an additional 246 shares in the last quarter. United Capital Financial Advisors LLC raised its holdings in shares of EastGroup Properties by 49.1% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,371 shares of the real estate investment trust's stock worth $381,000 after buying an additional 781 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in shares of EastGroup Properties during the 4th quarter worth $217,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of EastGroup Properties by 4.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 100,247 shares of the real estate investment trust's stock worth $16,090,000 after buying an additional 4,152 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Trading Down 0.8%

Shares of NYSE EGP traded down $1.3530 during trading on Thursday, reaching $163.5470. The company had a trading volume of 195,067 shares, compared to its average volume of 419,110. The company's fifty day moving average price is $166.30 and its 200-day moving average price is $169.26. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.21. The stock has a market cap of $8.72 billion, a P/E ratio of 35.32, a PEG ratio of 3.36 and a beta of 0.98. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, beating 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 firm had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. During the same quarter in the previous year, the company posted $2.05 EPS. The business's 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. As a group, research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on EGP. Raymond James Financial reaffirmed a "strong-buy" rating on shares of EastGroup Properties in a report 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 report on Monday, May 5th. 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 report on Wednesday, May 7th. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, 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 report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $189.31.

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.