Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in EastGroup Properties, Inc. $EGP

Mirae Asset Global Investments Co. Ltd. trimmed its stake in EastGroup Properties, Inc. (NYSE:EGP) by 43.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,412 shares of the real estate investment trust’s stock after selling 1,825 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EastGroup Properties were worth $403,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of EastGroup Properties by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust’s stock worth $1,267,977,000 after purchasing an additional 207,329 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of EastGroup Properties by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock worth $232,184,000 after purchasing an additional 342,620 shares during the period. Principal Financial Group Inc. lifted its position in shares of EastGroup Properties by 234.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust’s stock worth $215,267,000 after purchasing an additional 856,971 shares during the period. Boston Partners lifted its position in shares of EastGroup Properties by 13.8% in the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust’s stock worth $211,761,000 after purchasing an additional 146,230 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of EastGroup Properties in the 1st quarter worth approximately $190,456,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 2.6%

Shares of EastGroup Properties stock opened at $166.14 on Friday. 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 12-month low of $137.67 and a 12-month high of $188.89. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 3.47 and a beta of 1.02. The firm’s 50 day simple moving average is $166.69 and its two-hundred day simple moving average is $166.48.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.05 EPS. EastGroup Properties’s revenue for the quarter was up 11.4% compared to the same quarter last year. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a research report on Wednesday. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Cantor Fitzgerald assumed coverage on shares of EastGroup Properties in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $190.00 price target for the company. Evercore ISI lowered their price target on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Finally, Royal Bank Of Canada reduced 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 research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $188.31.

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.