Uniplan Investment Counsel Inc. Sells 12,855 Shares of EastGroup Properties, Inc. $EGP

Key Points

• Uniplan Investment Counsel Inc. reduced its stake in EastGroup Properties, Inc. by 6.4%, selling 12,855 shares and owning 188,643 shares post-sale, which constitutes 3.2% of its portfolio.
• EastGroup Properties recently increased its quarterly dividend from $1.40 to $1.55 per share, with a dividend yield of 3.7%.
• Analysts have set a consensus target price of $188.42 for EastGroup Properties, with ratings including one Strong Buy and six Buy ratings.

Uniplan Investment Counsel Inc. cut its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 188,643 shares of the real estate investment trust's stock after selling 12,855 shares during the quarter. EastGroup Properties comprises 3.2% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 5th largest position. Uniplan Investment Counsel Inc. owned approximately 0.36% of EastGroup Properties worth $33,230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Sandler Capital Management acquired a new position in shares of EastGroup Properties in the 1st quarter valued at $3,622,000. NFJ Investment Group LLC increased its holdings in EastGroup Properties by 79.3% in the first quarter. NFJ Investment Group LLC now owns 2,552 shares of the real estate investment trust's stock valued at $450,000 after purchasing an additional 1,129 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in EastGroup Properties by 7.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 7,546 shares of the real estate investment trust's stock valued at $1,329,000 after buying an additional 540 shares during the period. Millennium Management LLC lifted its stake in EastGroup Properties by 176.4% in the first quarter. Millennium Management LLC now owns 493,144 shares of the real estate investment trust's stock valued at $86,867,000 after buying an additional 314,738 shares during the period. Finally, Eventide Asset Management LLC boosted its holdings in EastGroup Properties by 20.9% during the first quarter. Eventide Asset Management LLC now owns 234,700 shares of the real estate investment trust's stock worth $41,344,000 after buying an additional 40,509 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EGP shares. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Royal Bank Of Canada decreased their price objective 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 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $188.42.

EastGroup Properties Trading Down 0.2%

NYSE:EGP opened at $167.92 on Friday. 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 simple moving average is $165.75 and its 200-day simple moving average is $168.52. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.21. The stock has a market capitalization of $8.96 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.42 and a beta of 1.01.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. The business had revenue of $177.29 million during the quarter, compared to analysts' expectations of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.EastGroup Properties's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $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. Sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, September 30th. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. EastGroup Properties's dividend payout ratio (DPR) is 133.91%.

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.

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