Kovitz Investment Group Partners LLC Buys Shares of 1,361 EastGroup Properties, Inc. $EGP

Kovitz Investment Group Partners LLC bought a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,361 shares of the real estate investment trust’s stock, valued at approximately $240,000.

Several other large investors have also made changes to their positions in EGP. Vanguard Group Inc. raised its position in EastGroup Properties by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust’s stock valued at $1,267,977,000 after purchasing an additional 207,329 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 valued at $215,267,000 after purchasing an additional 856,971 shares in the last quarter. Boston Partners grew its holdings in shares of EastGroup Properties by 13.8% during the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust’s stock valued at $211,761,000 after purchasing an additional 146,230 shares during the last quarter. Nuveen LLC acquired a new position in EastGroup Properties during the 1st quarter worth approximately $190,456,000. Finally, Northern Trust Corp boosted its position in EastGroup Properties by 91.3% in the fourth quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust’s stock valued at $130,189,000 after buying an additional 387,134 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EGP shares. Robert W. Baird dropped their price objective on shares of EastGroup Properties from $194.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an “overweight” rating in a report on Sunday, July 13th. Barclays cut their price target on EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Truist Financial lowered their price objective on shares of EastGroup Properties from $180.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, Royal Bank Of Canada dropped their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average price target of $189.31.

EastGroup Properties Trading Up 3.5%

Shares of EastGroup Properties stock opened at $169.4530 on Friday. The company has a market capitalization of $9.04 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 3.33 and a beta of 0.98. The stock has a fifty day simple moving average of $166.27 and a 200 day simple moving average of $169.25. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.21. 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 (NYSE:EGP) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. The firm had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. On average, sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s payout ratio is presently 120.95%.

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.