Hsbc Holdings PLC Raises Stock Position in EastGroup Properties, Inc. $EGP

Hsbc Holdings PLC increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 12.6% in the 4th quarter, HoldingsChannel reports. The fund owned 130,033 shares of the real estate investment trust’s stock after acquiring an additional 14,528 shares during the period. Hsbc Holdings PLC’s holdings in EastGroup Properties were worth $23,164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EGP. Cohen & Steers Inc. boosted its stake in EastGroup Properties by 7.0% in the fourth quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock valued at $545,746,000 after acquiring an additional 200,617 shares in the last quarter. State Street Corp grew its holdings in EastGroup Properties by 0.6% in the third quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after purchasing an additional 15,918 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of EastGroup Properties by 16.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust’s stock worth $410,404,000 after purchasing an additional 318,261 shares in the last quarter. Norges Bank acquired a new position in shares of EastGroup Properties during the fourth quarter worth $281,054,000. Finally, Boston Partners lifted its holdings in shares of EastGroup Properties by 2.1% during the 3rd quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust’s stock valued at $203,834,000 after purchasing an additional 25,055 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EGP. Evercore set a $195.00 price objective on EastGroup Properties in a research report on Friday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Royal Bank Of Canada raised their price target on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 28th. Finally, Truist Financial boosted their price target on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.12.

Insiders Place Their Bets

In other news, Director David Michael Fields sold 504 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

EastGroup Properties Trading Down 0.6%

NYSE:EGP opened at $203.71 on Thursday. EastGroup Properties, Inc. has a 12 month low of $159.37 and a 12 month high of $207.72. The firm has a fifty day simple moving average of $201.60 and a 200-day simple moving average of $191.47. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $10.95 billion, a P/E ratio of 37.04, a PEG ratio of 3.08 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same period in the previous year, the company earned $2.15 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities research analysts anticipate that EastGroup Properties, Inc. will post 9.58 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. EastGroup Properties’s payout ratio is presently 112.73%.

EastGroup Properties Company Profile

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.