154,996 Shares in EastGroup Properties, Inc. $EGP Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 154,996 shares of the real estate investment trust’s stock, valued at approximately $31,391,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EGP. BlackRock Inc. bought a new stake in shares of EastGroup Properties during the 2nd quarter valued at $1,553,186,000. Cohen & Steers Inc. grew its stake in shares of EastGroup Properties by 7.0% during the fourth quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock worth $545,746,000 after purchasing an additional 200,617 shares during the period. State Street Corp grew its stake 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 purchasing an additional 15,918 shares during the period. Principal Financial Group Inc. increased its holdings in EastGroup Properties by 1.1% in the first quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust’s stock valued at $431,028,000 after purchasing an additional 24,910 shares during the last quarter. Finally, Norges Bank bought a new stake in EastGroup Properties in the fourth quarter valued at about $281,054,000. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $200.03 on Friday. The company has a market capitalization of $10.76 billion, a PE ratio of 35.09, a PEG ratio of 2.92 and a beta of 1.02. EastGroup Properties, Inc. has a 12 month low of $163.10 and a 12 month high of $226.71. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $207.62 and its 200 day simple moving average is $199.85.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same period in the previous year, the company posted $2.21 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, research analysts predict that EastGroup Properties, Inc. will post 9.6 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.75 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, September 30th. This represents a $7.00 annualized dividend and a dividend yield of 3.5%. EastGroup Properties’s dividend payout ratio (DPR) is presently 108.77%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EGP. Robert W. Baird set a $221.00 target price on EastGroup Properties in a report on Friday, July 31st. BTIG Research boosted their target price on EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Evercore set a $206.00 price target on EastGroup Properties in a research note on Thursday, July 23rd. Wells Fargo & Company increased their price target on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Barclays lifted their price objective on shares of EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target of $221.11.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

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.