Nisa Investment Advisors LLC Sells 3,267 Shares of EastGroup Properties, Inc. $EGP

Nisa Investment Advisors LLC lowered its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 12.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,344 shares of the real estate investment trust’s stock after selling 3,267 shares during the period. Nisa Investment Advisors LLC’s holdings in EastGroup Properties were worth $3,819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of EastGroup Properties during the second quarter valued at about $252,405,000. Invesco Ltd. boosted its position in EastGroup Properties by 89.5% during the 2nd quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust’s stock worth $155,015,000 after buying an additional 438,117 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its holdings in EastGroup Properties by 31.0% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 814,104 shares of the real estate investment trust’s stock worth $136,053,000 after acquiring an additional 192,801 shares during the last quarter. Vanguard Group Inc. increased its position in EastGroup Properties by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,306,840 shares of the real estate investment trust’s stock valued at $1,221,119,000 after acquiring an additional 108,561 shares during the period. Finally, Ceredex Value Advisors LLC raised its stake in shares of EastGroup Properties by 65.7% during the second quarter. Ceredex Value Advisors LLC now owns 266,550 shares of the real estate investment trust’s stock valued at $44,546,000 after acquiring an additional 105,705 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of EGP opened at $183.36 on Tuesday. The firm has a market cap of $9.78 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $188.89. The business’s 50 day moving average price is $180.03 and its two-hundred day moving average price is $172.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 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 company had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same period last year, the business earned $2.13 EPS. The business’s quarterly 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 and its Q4 2025 guidance at 2.300-2.340 EPS. On average, equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.55 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.20 annualized dividend and a dividend yield of 3.4%. EastGroup Properties’s dividend payout ratio is currently 130.25%.

Insider Activity

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was 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 directly owned 20,630 shares in the company, valued at $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Mizuho restated a “neutral” rating and issued a $172.00 price objective (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. Wall Street Zen cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley lifted their price objective on EastGroup Properties from $178.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Barclays raised shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price target for the company. in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $194.41.

EastGroup Properties Profile

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.