JPMorgan Chase & Co. Has $166.11 Million Stock Position in EastGroup Properties, Inc. $EGP

Key Points

• JPMorgan Chase & Co. reduced its stock holdings in EastGroup Properties, Inc. by 10.4% in the first quarter, now holding approximately 943,023 shares worth $166.11 million.
• EastGroup Properties reported a quarterly earnings per share (EPS) of $2.21, slightly exceeding analysts' expectations, with a revenue increase of 11.4% year-over-year.
• The company recently paid a quarterly dividend of $1.40, reflecting an annualized yield of 3.5%, and has a dividend payout ratio of 120.95%.

JPMorgan Chase & Co. trimmed its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 943,023 shares of the real estate investment trust's stock after selling 109,488 shares during the quarter. JPMorgan Chase & Co. owned about 1.80% of EastGroup Properties worth $166,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of EastGroup Properties by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust's stock worth $1,267,977,000 after buying an additional 207,329 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of EastGroup Properties by 24.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock worth $226,888,000 after purchasing an additional 273,217 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of EastGroup Properties by 234.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust's stock worth $215,267,000 after purchasing an additional 856,971 shares in the last quarter. Northern Trust Corp raised its holdings in shares of EastGroup Properties by 91.3% in the 4th quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust's stock worth $130,189,000 after purchasing an additional 387,134 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of EastGroup Properties by 41.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 718,895 shares of the real estate investment trust's stock worth $115,375,000 after purchasing an additional 210,905 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EGP has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 29th. Robert W. Baird dropped their target price on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Raymond James Financial reiterated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Evercore ISI boosted their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $189.31.

EastGroup Properties Stock Up 3.1%

EGP traded up $5.0680 on Tuesday, reaching $166.1680. 60,197 shares of the company traded hands, compared to its average volume of 431,338. The stock's 50 day moving average price is $166.76 and its 200-day moving average price is $169.35. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.21. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 3.32 and a beta of 0.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data 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 net margin of 34.85% and a return on equity of 7.29%. The firm had revenue of $177.29 million for 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 firm'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. On average, sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $5.60 dividend on an annualized basis and a yield of 3.4%. EastGroup Properties's payout ratio is presently 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.