EastGroup Properties, Inc. $EGP Shares Bought by Davis Selected Advisers

Davis Selected Advisers grew its stake in EastGroup Properties, Inc. (NYSE:EGP) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,130 shares of the real estate investment trust’s stock after acquiring an additional 1,380 shares during the quarter. Davis Selected Advisers owned about 0.09% of EastGroup Properties worth $7,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of EastGroup Properties by 1,035.7% in the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 145 shares during the period. Hilltop National Bank acquired a new position in EastGroup Properties in the 2nd quarter valued at about $111,000. First Eagle Investment Management LLC grew its stake in shares of EastGroup Properties by 51.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 831 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 284 shares during the period. Jones Financial Companies Lllp grew its stake in shares of EastGroup Properties by 18,900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 945 shares during the period. Finally, Choreo LLC acquired a new stake in shares of EastGroup Properties during the 1st quarter worth approximately $203,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI decreased their price objective on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a report on Monday, October 6th. Cantor Fitzgerald upped their price target on EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. BNP Paribas upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target for the company in a report on Monday, October 27th. Royal Bank Of Canada set a $183.00 price objective on EastGroup Properties and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. Finally, Robert W. Baird upped their target price on shares of EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.80.

EastGroup Properties Trading Down 0.2%

EGP opened at $177.58 on Friday. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $188.89. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $172.27 and a 200-day simple moving average of $169.03. The firm has a market cap of $9.47 billion, a P/E ratio of 37.31, a P/E/G ratio of 3.67 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same period in the previous year, the company posted $2.13 EPS. EastGroup Properties’s revenue 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, equities analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

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

Insiders Place Their Bets

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the sale, the executive vice president directly owned 20,630 shares of the company’s stock, valued at $3,610,250. This represents a 8.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

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.