Nomura Asset Management Co. Ltd. Has $14.62 Million Stake in EastGroup Properties, Inc. $EGP

Nomura Asset Management Co. Ltd. raised its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,079 shares of the real estate investment trust’s stock after acquiring an additional 2,670 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in EastGroup Properties were worth $14,622,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of EastGroup Properties by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,350,473 shares of the real estate investment trust’s stock worth $1,244,141,000 after buying an additional 43,633 shares in the last quarter. State Street Corp increased its holdings in shares of EastGroup Properties by 0.6% during the third quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after buying an additional 15,918 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of EastGroup Properties by 16.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust’s stock worth $410,404,000 after buying an additional 318,261 shares in the last quarter. Norges Bank acquired a new stake in shares of EastGroup Properties during the fourth quarter worth approximately $281,054,000. Finally, Boston Partners increased its holdings in shares of EastGroup Properties by 2.1% during the third quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust’s stock worth $203,834,000 after buying an additional 25,055 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on EGP shares. Wells Fargo & Company raised their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings raised shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Evercore set a $195.00 price objective on shares of EastGroup Properties in a report on Friday, April 24th. Morgan Stanley increased their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.07.

EastGroup Properties Price Performance

EGP opened at $195.60 on Wednesday. EastGroup Properties, Inc. has a one year low of $159.37 and a one year high of $207.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The company’s 50 day simple moving average is $196.96 and its 200-day simple moving average is $188.86. The stock has a market capitalization of $10.52 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 2.93 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million for the quarter, compared to analysts’ expectations of $193.84 million. During the same period in the prior year, the firm earned $2.15 earnings per share. EastGroup Properties’s revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Sell-side analysts anticipate that EastGroup Properties, Inc. will post 9.57 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is 112.73%.

About EastGroup Properties

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.