Nordea Investment Management AB Increases Holdings in EastGroup Properties, Inc. $EGP

Nordea Investment Management AB boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 13.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,533 shares of the real estate investment trust’s stock after buying an additional 9,776 shares during the period. Nordea Investment Management AB’s holdings in EastGroup Properties were worth $13,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC boosted its position in shares of EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. State of Wyoming purchased a new position in EastGroup Properties during the second quarter worth about $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in EastGroup Properties in the 3rd quarter valued at about $34,000. Mather Group LLC. acquired a new position in EastGroup Properties in the 3rd quarter valued at about $35,000. Finally, Canton Hathaway LLC grew its stake in shares of EastGroup Properties by 31.6% in the 3rd quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 60 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’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 sale, the executive vice president directly owned 20,630 shares in the company, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

EastGroup Properties Stock Up 0.2%

Shares of NYSE EGP opened at $186.53 on Friday. The stock has a market cap of $9.95 billion, a P/E ratio of 39.19, a PEG ratio of 2.73 and a beta of 1.11. The business’s fifty day simple moving average is $180.69 and its 200-day simple moving average is $172.76. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $188.89. 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 issued its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01). The company had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.EastGroup Properties’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 EPS. 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. As a group, equities analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s payout ratio is 130.25%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho reissued a “neutral” rating and set a $172.00 price objective (down from $180.00) on shares of EastGroup Properties in a research report on Thursday, December 4th. Wall Street Zen cut shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Industrial Alliance Securities set a $200.00 price target on shares of EastGroup Properties in a research note on Monday, October 27th. Cantor Fitzgerald increased their price objective on shares of EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Barclays upgraded shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.