EastGroup Properties (NYSE:EGP) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• EastGroup Properties reported an EPS of $2.27 for the quarter, meeting the consensus estimate, with a net margin of 34.85% and a return on equity of 7.29%.
• The company increased its quarterly dividend to $1.55 per share, up from the previous $1.40, representing an annualized dividend yield of 3.5%.
• Institutional investors hold a significant portion of the company, with 92.14% of shares owned by institutions, reflecting increased interest in EastGroup Properties.

EastGroup Properties (NYSE:EGP - Get Free Report) released its quarterly earnings data on Thursday. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01), Zacks reports. The business had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $2.13 earnings per share. EastGroup Properties updated its FY 2025 guidance to 8.940-8.980 EPS and its Q4 2025 guidance to 2.300-2.340 EPS.

EastGroup Properties Price Performance

Shares of EGP opened at $179.08 on Friday. EastGroup Properties has a 1 year low of $137.67 and a 1 year high of $188.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 3.68 and a beta of 1.02. The business has a 50-day moving average of $169.32 and a 200-day moving average of $166.86.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, September 30th. EastGroup Properties's dividend payout ratio is 133.91%.

Hedge Funds Weigh In On EastGroup Properties

A number of hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its holdings in EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust's stock worth $167,000 after purchasing an additional 945 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in EastGroup Properties by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust's stock worth $33,494,000 after purchasing an additional 41,538 shares in the last quarter. Jane Street Group LLC increased its holdings in EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust's stock worth $2,797,000 after purchasing an additional 12,003 shares in the last quarter. Focus Partners Wealth increased its holdings in EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock worth $1,075,000 after purchasing an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in EastGroup Properties by 1.9% in the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust's stock worth $613,000 after purchasing an additional 68 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley raised their price objective on EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 9th. Cantor Fitzgerald assumed coverage on EastGroup Properties in a research note on Wednesday, October 1st. They issued an "overweight" rating and a $190.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of EastGroup Properties in a research note on Wednesday, October 8th. Evercore ISI reduced their price objective on EastGroup Properties from $180.00 to $179.00 and set an "in-line" rating on the stock in a research note on Monday, October 6th. Finally, Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $188.31.

About EastGroup Properties

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.