EastGroup Properties, Inc. $EGP Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 12.6% during the fourth quarter, HoldingsChannel reports. The firm owned 130,033 shares of the real estate investment trust’s stock after buying an additional 14,528 shares during the period. Hsbc Holdings PLC’s holdings in EastGroup Properties were worth $23,164,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EGP. Rockefeller Capital Management L.P. grew its holdings in EastGroup Properties by 22.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,854 shares of the real estate investment trust’s stock valued at $330,000 after purchasing an additional 337 shares in the last quarter. World Investment Advisors acquired a new position in EastGroup Properties in the 4th quarter worth $304,000. Montanaro Asset Management Ltd lifted its holdings in EastGroup Properties by 28.6% in the 4th quarter. Montanaro Asset Management Ltd now owns 47,600 shares of the real estate investment trust’s stock worth $8,479,000 after buying an additional 10,600 shares in the last quarter. Corient Private Wealth LLC boosted its position in EastGroup Properties by 22.1% in the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock valued at $5,260,000 after buying an additional 5,341 shares during the last quarter. Finally, Kera Capital Partners Inc. boosted its position in EastGroup Properties by 54.8% in the 4th quarter. Kera Capital Partners Inc. now owns 3,120 shares of the real estate investment trust’s stock valued at $567,000 after buying an additional 1,104 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of EGP stock opened at $212.15 on Tuesday. The firm has a fifty day moving average of $202.91 and a two-hundred day moving average of $192.94. The firm has a market cap of $11.41 billion, a P/E ratio of 38.57, a P/E/G ratio of 3.17 and a beta of 1.03. EastGroup Properties, Inc. has a 1-year low of $159.37 and a 1-year high of $213.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating 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 business had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same quarter in the prior year, the business posted $2.15 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, research analysts anticipate that EastGroup Properties, Inc. will post 9.58 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 2.9%. EastGroup Properties’s dividend payout ratio is presently 112.73%.

Analyst Ratings Changes

Several analysts have recently weighed in on EGP shares. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Evercore set a $195.00 price target on EastGroup Properties in a report on Friday, April 24th. Raymond James Financial began coverage on EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target for the company. Truist Financial lifted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Robert W. Baird lifted their price objective on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.59.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $691,263.87. This trade represents a 12.49% decrease in their position. 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 insiders.

About EastGroup Properties

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.