EastGroup Properties, Inc. $EGP Shares Sold by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has significantly reduced its stake in EastGroup Properties, from 89,730 shares to just 2,697 shares, representing a 97.1% decrease in holdings.
• EastGroup Properties' latest quarterly earnings showed an EPS of $2.21, outperforming analyst expectations of $2.20, with revenue reaching $177.29 million.
• The company has declared a quarterly dividend of $1.55 per share, marking an increase from the previous dividend of $1.40, and will be paid to shareholders on October 15th.

Nomura Holdings Inc. cut its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 97.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,697 shares of the real estate investment trust's stock after selling 89,730 shares during the quarter. Nomura Holdings Inc.'s holdings in EastGroup Properties were worth $475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citizens National Bank Trust Department purchased a new position in EastGroup Properties during the 1st quarter worth $26,000. Assetmark Inc. increased its stake in shares of EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 145 shares during the period. Mather Group LLC. raised its holdings in EastGroup Properties by 74.2% during the first quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 155 shares in the last quarter. Parallel Advisors LLC lifted its position in EastGroup Properties by 387.4% in the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 337 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 108 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

EGP traded down $1.38 during midday trading on Wednesday, reaching $163.55. 329,491 shares of the company's stock were exchanged, compared to its average volume of 353,037. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.21. The stock has a market capitalization of $8.72 billion, a PE ratio of 35.32, a P/E/G ratio of 3.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The business's 50-day moving average price is $165.55 and its 200 day moving average price is $168.30.

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 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 for the quarter, compared to analyst estimates of $175.80 million. During the same period in the prior year, the business earned $2.05 earnings per share. The company's quarterly 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, equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, September 30th. EastGroup Properties's payout ratio is presently 120.95%.

Wall Street Analyst Weigh In

Several analysts have recently commented on EGP shares. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Morgan Stanley increased their price objective on EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Royal Bank Of Canada decreased 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.25.

About EastGroup Properties

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.