EastGroup Properties, Inc. $EGP Shares Acquired by M&T Bank Corp

M&T Bank Corp lifted its position in EastGroup Properties, Inc. (NYSE:EGP) by 59.9% in the 4th quarter, HoldingsChannel reports. The firm owned 12,597 shares of the real estate investment trust’s stock after purchasing an additional 4,720 shares during the quarter. M&T Bank Corp’s holdings in EastGroup Properties were worth $2,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of EGP. Jones Financial Companies Lllp increased its holdings in 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 worth $167,000 after buying an additional 945 shares during the period. Goldman Sachs Group Inc. raised its position in EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after buying an additional 41,538 shares during the last quarter. Jane Street Group LLC lifted its stake in EastGroup Properties by 309.8% during the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after acquiring an additional 12,003 shares during the period. Focus Partners Wealth boosted its holdings in shares of EastGroup Properties by 2.2% in the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after acquiring an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $205.34 on Friday. The firm has a 50-day simple moving average of $192.79 and a 200-day simple moving average of $185.72. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 3.07 and a beta of 1.05. EastGroup Properties, Inc. has a 52 week low of $159.37 and a 52 week high of $206.78.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same period in the previous year, the business posted $2.15 earnings per share. EastGroup Properties’s quarterly revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities analysts predict that EastGroup Properties, Inc. will post 9.56 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, March 31st. EastGroup Properties’s payout ratio is currently 112.73%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Robert W. Baird upped their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Wall Street Zen raised EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Citigroup lifted their price objective on EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada upped their target price on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus target price of $205.33.

EastGroup Properties Company 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.