Advisors Asset Management Inc. Has $927,000 Stake in EastGroup Properties, Inc. $EGP

Key Points

• Advisors Asset Management Inc. increased its stake in EastGroup Properties by 128.6% in Q1, acquiring an additional 2,960 shares, bringing their total holdings to 5,262 shares valued at approximately $927,000.
• EastGroup Properties declared a quarterly dividend of $1.55, up from $1.40, with an annualized dividend of $6.20 and a dividend yield of 3.8%.
• Analysts set a consensus price target of $188.25 for EastGroup Properties, with recommendations ranging from "Strong Buy" to "Hold."

Advisors Asset Management Inc. boosted its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 128.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,262 shares of the real estate investment trust's stock after acquiring an additional 2,960 shares during the quarter. Advisors Asset Management Inc.'s holdings in EastGroup Properties were worth $927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EGP. Ameriprise Financial Inc. boosted its position in EastGroup Properties by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust's stock valued at $12,232,000 after buying an additional 1,964 shares in the last quarter. Bank of America Corp DE boosted its position in EastGroup Properties by 8.6% in the fourth quarter. Bank of America Corp DE now owns 442,067 shares of the real estate investment trust's stock valued at $70,947,000 after buying an additional 34,900 shares in the last quarter. Captrust Financial Advisors boosted its position in EastGroup Properties by 1.4% in the fourth quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust's stock valued at $1,347,000 after buying an additional 112 shares in the last quarter. Cetera Investment Advisers boosted its position in EastGroup Properties by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust's stock valued at $495,000 after buying an additional 119 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in EastGroup Properties by 13.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust's stock valued at $583,000 after buying an additional 422 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Trading Down 0.4%

Shares of EGP traded down $0.73 on Friday, reaching $166.94. 393,453 shares of the company's stock were exchanged, compared to its average volume of 362,123. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $8.90 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.01. The business has a 50 day moving average price of $165.45 and a two-hundred day moving average price of $168.10. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The business's quarterly revenue was up 11.4% on a year-over-year basis. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 3.7%. EastGroup Properties's payout ratio is currently 120.95%.

Analyst Ratings Changes

A number of equities analysts have commented on EGP shares. Royal Bank Of Canada reduced their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. Morgan Stanley upped their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an "overweight" rating in a research report on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, EastGroup Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $188.25.

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.