EastGroup Properties, Inc. $EGP Shares Sold by KBC Group NV

KBC Group NV decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 26.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,508 shares of the real estate investment trust’s stock after selling 550 shares during the period. KBC Group NV’s holdings in EastGroup Properties were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in EGP. Assetmark Inc. lifted its stake in EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 145 shares during the last quarter. Hilltop National Bank bought a new position in shares of EastGroup Properties in the second quarter valued at $111,000. First Eagle Investment Management LLC increased its holdings in shares of EastGroup Properties by 51.9% in the second quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 284 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 945 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of EastGroup Properties during the 1st quarter worth $203,000. 92.14% of the stock is currently owned by institutional investors.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president owned 20,630 shares of the company’s stock, valued at $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

EastGroup Properties Stock Up 1.3%

Shares of EastGroup Properties stock opened at $179.93 on Wednesday. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $188.89. The company has a market cap of $9.60 billion, a P/E ratio of 37.80, a P/E/G ratio of 3.67 and a beta of 1.04. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $172.97 and a 200 day moving average price of $169.39.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01). The business had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $2.13 EPS. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. As a group, analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $1.55 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.20 annualized dividend and a yield of 3.4%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s dividend payout ratio (DPR) is currently 130.25%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EGP. Weiss Ratings restated a “hold (c+)” rating on shares of EastGroup Properties in a report on Monday. Truist Financial lifted their price target on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Robert W. Baird boosted their price objective on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Morgan Stanley upped their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Finally, BNP Paribas Exane upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.80.

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.