Mitsubishi UFJ Trust & Banking Corp Sells 3,916 Shares of EastGroup Properties, Inc. $EGP

Mitsubishi UFJ Trust & Banking Corp lowered its position in EastGroup Properties, Inc. (NYSE:EGP) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,013 shares of the real estate investment trust’s stock after selling 3,916 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.14% of EastGroup Properties worth $12,870,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Assetmark Inc. increased its holdings in EastGroup Properties by 1,035.7% during the 1st 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 in the last quarter. Hilltop National Bank bought a new stake in shares of EastGroup Properties during the second quarter worth $111,000. First Eagle Investment Management LLC increased its stake in shares of EastGroup Properties by 51.9% in the second 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of EastGroup Properties by 18,900.0% in the first 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 last quarter. Finally, Choreo LLC bought a new stake in EastGroup Properties during the 1st quarter worth about $203,000. 92.14% of the stock is currently owned by institutional investors.

Insider Activity

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

EastGroup Properties Price Performance

Shares of EGP opened at $176.39 on Friday. The stock has a market cap of $9.41 billion, a P/E ratio of 37.06, a price-to-earnings-growth ratio of 3.67 and a beta of 1.04. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $188.89. The stock’s 50-day moving average price is $172.44 and its two-hundred day moving average price is $169.16. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company had revenue of $182.14 million during the quarter, compared to the consensus estimate of $181.88 million. During the same period last year, the company earned $2.13 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. 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 predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.55 per share. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 30th. EastGroup Properties’s payout ratio is 130.25%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada set a $183.00 target price on shares of EastGroup Properties and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. BNP Paribas Exane raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective on the stock in a report on Monday, October 27th. BNP Paribas upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective on the stock in a research report on Monday, October 27th. Wells Fargo & Company boosted their target price on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, Robert W. Baird upped their price target on EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and an average target price of $190.80.

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.