Royal Bank of Canada Boosts Holdings in EastGroup Properties, Inc. $EGP

Royal Bank of Canada boosted its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 4.2% in the first quarter, HoldingsChannel reports. The fund owned 58,313 shares of the real estate investment trust’s stock after purchasing an additional 2,353 shares during the quarter. Royal Bank of Canada’s holdings in EastGroup Properties were worth $10,271,000 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. Ameriprise Financial Inc. lifted its position in EastGroup Properties by 2.6% during the fourth quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust’s stock valued at $12,232,000 after acquiring an additional 1,964 shares during the last quarter. Captrust Financial Advisors raised its position in shares of EastGroup Properties by 1.4% in the 4th quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust’s stock valued at $1,347,000 after purchasing an additional 112 shares during the last quarter. Cetera Investment Advisers raised its position in shares of EastGroup Properties by 4.0% in the 4th quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 119 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of EastGroup Properties by 13.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust’s stock valued at $583,000 after purchasing an additional 422 shares during the last quarter. Finally, Ethic Inc. raised its position in shares of EastGroup Properties by 18.9% in the 4th quarter. Ethic Inc. now owns 1,659 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Up 2.6%

NYSE:EGP opened at $167.67 on Friday. The firm has a market capitalization of $8.94 billion, a P/E ratio of 36.21, a PEG ratio of 3.33 and a beta of 1.01. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.21. The company’s fifty day moving average price is $165.50 and its 200-day moving average price is $168.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share 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 analyst estimates of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on EGP shares. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the company an “overweight” rating in a research report on Sunday, July 13th. Royal Bank Of Canada decreased their price objective on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 29th. Finally, Morgan Stanley increased 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 report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.25.

EastGroup Properties Company Profile

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.