Wellington Management Group LLP Has $45.48 Million Stock Position in EastGroup Properties, Inc. $EGP

Key Points

• Wellington Management increased its EastGroup Properties stake by 11.5% in the second quarter, bringing its holdings to 224,548 shares valued at approximately $45.48 million. Institutional investors collectively own 92.14% of the REIT.
• EastGroup reported quarterly EPS of $1.40, exceeding estimates by $0.09, while revenue rose 9% year over year to $193.33 million. The company reaffirmed fiscal 2026 EPS guidance of $9.52–$9.66.
• The company raised its quarterly dividend to $1.75 per share, or $7.00 annualized, representing a 3.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $221.68.

Wellington Management Group LLP raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 224,548 shares of the real estate investment trust's stock after buying an additional 23,156 shares during the quarter. Wellington Management Group LLP owned about 0.42% of EastGroup Properties worth $45,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of EastGroup Properties by 5.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust's stock valued at $126,677,000 after buying an additional 34,515 shares during the period. Corient Private Wealth LLC lifted its position in shares of EastGroup Properties by 22.1% in the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust's stock worth $5,260,000 after acquiring an additional 5,341 shares during the period. California State Teachers Retirement System grew its holdings in shares of EastGroup Properties by 22.7% during the 1st quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust's stock worth $11,493,000 after purchasing an additional 11,504 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of EastGroup Properties during the second quarter valued at approximately $3,753,000. Finally, Heartland Advisors Inc. raised its stake in shares of EastGroup Properties by 13.7% in the fourth quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust's stock valued at $7,607,000 after purchasing an additional 5,160 shares in the last quarter. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

NYSE EGP opened at $198.20 on Friday. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.88 and a beta of 1.01. The company has a 50 day moving average of $207.19 and a 200-day moving average of $200.16. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. EastGroup Properties, Inc. has a 1-year low of $163.10 and a 1-year high of $226.71.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. The business had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.EastGroup Properties's revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, equities analysts forecast that EastGroup Properties, Inc. will post 9.6 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 30th. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.55. EastGroup Properties's dividend payout ratio is presently 108.77%.

Analyst Ratings Changes

A number of research firms have weighed in on EGP. KeyCorp lifted their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Royal Bank Of Canada increased their price objective on shares of EastGroup Properties from $208.00 to $220.00 and gave the company a "sector perform" rating in a research note on Monday, August 3rd. Robert W. Baird set a $221.00 price objective on shares of EastGroup Properties in a report on Friday, July 31st. Wells Fargo & Company upped their target price on shares of EastGroup Properties from $221.00 to $232.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, BTIG Research increased their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.68.

About EastGroup Properties

EastGroup Properties, Inc NYSE: EGP is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company's portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.

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