4,000 Shares in EastGroup Properties, Inc. $EGP Acquired by Nicola Wealth Management LTD.

Key Points

• Nicola Wealth Management LTD. invested $705,000 in EastGroup Properties, Inc., acquiring 4,000 shares in the first quarter.
• Analyst ratings for EastGroup Properties show a consensus of Moderate Buy with an average price target of $188.25.
• EastGroup Properties has increased its quarterly dividend to $1.55, up from $1.40, resulting in a 3.7% annual yield.

Nicola Wealth Management LTD. purchased a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,000 shares of the real estate investment trust's stock, valued at approximately $705,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its position in shares of EastGroup Properties by 2.6% in the 4th quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust's stock worth $12,232,000 after buying an additional 1,964 shares during the last quarter. Captrust Financial Advisors boosted its stake in EastGroup Properties by 1.4% in the fourth quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust's stock valued at $1,347,000 after acquiring an additional 112 shares in the last quarter. Cetera Investment Advisers increased its position in shares of EastGroup Properties by 4.0% during the fourth quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust's stock worth $495,000 after purchasing an additional 119 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of EastGroup Properties by 13.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust's stock worth $583,000 after purchasing an additional 422 shares in the last quarter. Finally, Ethic Inc. lifted its holdings in shares of EastGroup Properties by 18.9% during the 4th quarter. Ethic Inc. now owns 1,659 shares of the real estate investment trust's stock valued at $266,000 after purchasing an additional 264 shares during the last quarter. Institutional investors own 92.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EGP. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. 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 research report on Tuesday, July 29th. Morgan Stanley upped their price target 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. Finally, Evercore ISI raised their price target on shares of EastGroup Properties from $176.00 to $180.00 and gave the stock an "in-line" rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $188.25.

EastGroup Properties Trading Up 0.5%

Shares of EGP stock traded up $0.80 on Wednesday, hitting $167.68. 63,759 shares of the stock traded hands, compared to its average volume of 425,768. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.21. The stock has a market capitalization of $8.94 billion, a PE ratio of 36.19, a PEG ratio of 3.40 and a beta of 1.01. The firm's 50-day moving average price is $165.41 and its two-hundred day moving average price is $167.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.01. The company had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. EastGroup Properties's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business 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, analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's payout ratio is currently 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.