Hsbc Holdings PLC Buys New Stake in EastGroup Properties, Inc. $EGP

Hsbc Holdings PLC purchased a new position in EastGroup Properties, Inc. (NYSE:EGP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 154,996 shares of the real estate investment trust’s stock, valued at approximately $31,391,000. Hsbc Holdings PLC owned approximately 0.29% of EastGroup Properties as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGP. Renaissance Group LLC grew its stake in shares of EastGroup Properties by 3.9% in the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 54 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in shares of EastGroup Properties by 4.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 60 shares during the period. Cetera Investment Advisers boosted its stake in 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 buying an additional 68 shares in the last quarter. Larson Financial Group LLC boosted its stake in EastGroup Properties by 35.6% in the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 69 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its position in EastGroup Properties by 3.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 2,482 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 73 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial increased their price objective on EastGroup Properties from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their target price on shares of EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. BTIG Research upped their target price on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Barclays increased their target price on shares of EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley upped their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $221.11.

Insider Activity

In related news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $200.03 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $10.76 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.92 and a beta of 1.02. The firm has a 50 day simple moving average of $207.62 and a 200 day simple moving average of $199.85. EastGroup Properties, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $226.71.

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

EastGroup Properties Increases Dividend

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

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.