Vestmark Advisory Solutions Inc. Decreases Stock Holdings in EastGroup Properties, Inc. $EGP

Vestmark Advisory Solutions Inc. lessened its stake in EastGroup Properties, Inc. (NYSE:EGP) by 53.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,180 shares of the real estate investment trust’s stock after selling 3,670 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in EastGroup Properties were worth $531,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in EGP. Covestor Ltd lifted its holdings in EastGroup Properties by 5.6% during the first quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 62 shares in the last quarter. UMB Bank n.a. raised its position in shares of EastGroup Properties by 4.0% during the 2nd quarter. UMB Bank n.a. now owns 2,029 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 78 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in EastGroup Properties by 0.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,900 shares of the real estate investment trust’s stock valued at $2,448,000 after buying an additional 100 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in EastGroup Properties by 2.5% in the 2nd quarter. Securian Asset Management Inc. now owns 4,045 shares of the real estate investment trust’s stock worth $676,000 after buying an additional 100 shares during the last quarter. Finally, OneAscent Wealth Management LLC increased its stake in EastGroup Properties by 6.3% during the 1st quarter. OneAscent Wealth Management LLC now owns 1,747 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 104 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

EGP stock opened at $179.32 on Wednesday. The business’s fifty day moving average price is $171.85 and its 200 day moving average price is $168.91. The company has a market capitalization of $9.57 billion, a PE ratio of 37.67, 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. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $188.89.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. During the same period in the prior year, the business earned $2.13 EPS. EastGroup Properties’s revenue for the quarter was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. On average, sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.55 per share. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.20 dividend on an annualized basis and a yield of 3.5%. EastGroup Properties’s dividend payout ratio (DPR) is presently 130.25%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a research note on Wednesday, November 5th. Morgan Stanley lifted their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. Evercore ISI dropped their target price on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a report on Monday, October 6th. Robert W. Baird raised their price target on shares of EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Finally, BNP Paribas Exane upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target on the stock in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.07.

Insider Activity at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the executive vice president owned 20,630 shares in the company, valued at approximately $3,610,250. This represents a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

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.