Resona Asset Management Co. Ltd. Increases Stock Holdings in EastGroup Properties, Inc. $EGP

Key Points

• Resona Asset Management Co. Ltd. increased its stake in EastGroup Properties, Inc. by 15% in Q1, owning a total of 22,637 shares worth approximately $3.99 million.
• EastGroup Properties reported a quarterly EPS of $2.21, beating analysts' estimates, with revenue rising 11.4% year-over-year to $177.29 million.
• The company declared a quarterly dividend of $1.40 per share, representing a 3.4% yield and a payout ratio of 120.95%.

Resona Asset Management Co. Ltd. raised its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,637 shares of the real estate investment trust's stock after purchasing an additional 2,959 shares during the period. Resona Asset Management Co. Ltd.'s holdings in EastGroup Properties were worth $3,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System raised its position in EastGroup Properties by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust's stock valued at $9,447,000 after purchasing an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in EastGroup Properties by 211.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust's stock valued at $748,000 after purchasing an additional 2,877 shares in the last quarter. Bessemer Group Inc. raised its position in EastGroup Properties by 31.9% during 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. OneDigital Investment Advisors LLC bought a new stake in EastGroup Properties during the 1st quarter valued at $216,000. Finally, Envestnet Asset Management Inc. raised its position in EastGroup Properties by 5.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust's stock valued at $28,121,000 after purchasing an additional 8,701 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Down 0.8%

Shares of EGP traded down $1.3530 during trading hours on Thursday, hitting $163.5470. The company had a trading volume of 195,067 shares, compared to its average volume of 419,110. The company has a market capitalization of $8.72 billion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 3.36 and a beta of 0.98. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.21. The company's fifty day moving average price is $166.30 and its two-hundred day moving average price is $169.26.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $175.80 million. During the same period in the previous year, the business earned $2.05 EPS. The firm's revenue for the quarter 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 forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EGP. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Robert W. Baird decreased their target price on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Evercore ISI lifted their target price on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Finally, Royal Bank Of Canada reduced their price target on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, EastGroup Properties has an average rating of "Moderate Buy" and an average 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.