EastGroup Properties, Inc. $EGP Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP reduced its position in EastGroup Properties, Inc. (NYSE:EGP) by 29.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,179 shares of the real estate investment trust’s stock after selling 28,871 shares during the quarter. Hudson Bay Capital Management LP owned about 0.13% of EastGroup Properties worth $11,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in shares of EastGroup Properties by 19.5% in the first quarter. LPL Financial LLC now owns 15,890 shares of the real estate investment trust’s stock valued at $2,799,000 after buying an additional 2,596 shares during the last quarter. HighTower Advisors LLC grew its stake in EastGroup Properties by 14.3% during the 1st quarter. HighTower Advisors LLC now owns 3,029 shares of the real estate investment trust’s stock valued at $534,000 after acquiring an additional 379 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in EastGroup Properties by 67.2% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 6,850 shares of the real estate investment trust’s stock valued at $1,207,000 after acquiring an additional 2,752 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in EastGroup Properties in the 1st quarter valued at about $240,000. Finally, Fox Run Management L.L.C. purchased a new position in EastGroup Properties in the 1st quarter worth approximately $240,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EGP shares. 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 report on Monday, October 27th. Robert W. Baird boosted their price objective on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Piper Sandler set a $220.00 target price on EastGroup Properties in a research note on Friday. Evercore ISI reduced their price target 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. Finally, KeyCorp raised shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.56.

EastGroup Properties Stock Performance

NYSE EGP opened at $182.29 on Monday. The stock has a market cap of $9.73 billion, a PE ratio of 38.30, a P/E/G ratio of 2.74 and a beta of 1.11. 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, Inc. has a twelve month low of $137.67 and a twelve month high of $188.89. The stock has a fifty day simple moving average of $177.44 and a 200-day simple moving average of $170.90.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data 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). The company had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 earnings per share. 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. Equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

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

Insider Buying and Selling

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company 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.