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

Wellington Management Group LLP grew its stake in EastGroup Properties, Inc. (NYSE:EGP) by 11.5% in the second quarter, HoldingsChannel reports. The fund owned 224,548 shares of the real estate investment trust’s stock after acquiring an additional 23,156 shares during the period. Wellington Management Group LLP’s holdings in EastGroup Properties were worth $45,478,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of EastGroup Properties during the second quarter valued at approximately $27,000. Glen Eagle Advisors LLC raised its position in EastGroup Properties by 96.3% in the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 104 shares during the last quarter. Parallel Advisors LLC raised its position in EastGroup Properties by 53.5% in the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 85 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 139 shares in the last quarter. Finally, Avalon Trust Co acquired a new position in EastGroup Properties during the 1st quarter worth $46,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Up 0.4%

NYSE:EGP opened at $198.20 on Friday. EastGroup Properties, Inc. has a 1 year low of $163.10 and a 1 year high of $226.71. The stock has a 50-day moving average price of $207.19 and a two-hundred day moving average price of $200.16. The stock 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 current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The company had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same quarter last year, the firm posted $2.21 earnings per share. EastGroup Properties’s revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, equities analysts expect that EastGroup Properties, Inc. will post 9.6 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.55. This represents a $7.00 dividend on an annualized basis and a yield of 3.5%. EastGroup Properties’s payout ratio is presently 108.77%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Robert W. Baird set a $221.00 price target on EastGroup Properties in a report on Friday, July 31st. Piper Sandler reiterated an “overweight” rating on shares of EastGroup Properties in a research report on Thursday, August 13th. KeyCorp lifted their price objective on EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Raymond James Financial initiated coverage on EastGroup Properties in a report on Wednesday, June 17th. They set an “outperform” rating and a $241.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.68.

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.