LPL Financial LLC Boosts Stock Holdings in EastGroup Properties, Inc. $EGP

Key Points

• LPL Financial LLC increased its stake in EastGroup Properties by 19.5%, holding a total of 15,890 shares valued at approximately $2.80 million as per its recent SEC filing.
• A majority of institutional and hedge fund investors now control 92.14% of EastGroup Properties stock, indicating significant interest from large financial entities.
• The real estate investment trust has announced a quarterly dividend of $1.40, resulting in a 3.4% yield for investors, despite a high dividend payout ratio of 120.95%.

LPL Financial LLC grew its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 19.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,890 shares of the real estate investment trust's stock after buying an additional 2,596 shares during the period. LPL Financial LLC's holdings in EastGroup Properties were worth $2,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bar Harbor Wealth Management lifted its holdings in shares of EastGroup Properties by 0.3% in the 1st quarter. Bar Harbor Wealth Management now owns 23,344 shares of the real estate investment trust's stock worth $4,112,000 after acquiring an additional 66 shares during the last quarter. Optas LLC lifted its holdings in shares of EastGroup Properties by 5.1% in the 1st quarter. Optas LLC now owns 1,397 shares of the real estate investment trust's stock worth $246,000 after acquiring an additional 68 shares during the last quarter. KBC Group NV lifted its holdings in shares of EastGroup Properties by 3.5% in the 1st quarter. KBC Group NV now owns 2,058 shares of the real estate investment trust's stock worth $363,000 after acquiring an additional 69 shares during the last quarter. Moran Wealth Management LLC lifted its holdings in shares of EastGroup Properties by 1.1% in the 1st quarter. Moran Wealth Management LLC now owns 6,521 shares of the real estate investment trust's stock worth $1,149,000 after acquiring an additional 73 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its holdings in shares of EastGroup Properties by 3.6% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 2,264 shares of the real estate investment trust's stock worth $399,000 after acquiring an additional 78 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Trading Up 3.5%

EGP traded up $5.6730 on Friday, reaching $169.4530. 255,177 shares of the company traded hands, compared to its average volume of 390,143. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.21. The firm has a fifty day simple moving average of $166.27 and a two-hundred day simple moving average of $169.25. The company has a market cap of $9.04 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 3.33 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 posted its 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. The business had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. 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, equities research analysts expect 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 will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.55 per share. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 3.7%. EastGroup Properties's dividend payout ratio (DPR) is 120.95%.

Analyst Ratings Changes

EGP has been the subject of several analyst reports. Barclays lowered their target price on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Robert W. Baird lowered their target price on shares of 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 shares of 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 shares of 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 investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $189.31.

EastGroup Properties 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.