American Century Companies Inc. Purchases 118,788 Shares of EastGroup Properties, Inc. $EGP

Key Points

• American Century Companies Inc. raised its stock holdings in EastGroup Properties, Inc. by 77.1% in the first quarter, now owning approximately 0.52% of the company worth $48,055,000.
• EastGroup Properties posted $2.21 EPS for the last quarter, slightly exceeding analysts' estimates, with a year-over-year revenue increase of 11.4%.
• The company also announced a quarterly dividend of $1.40 per share, representing an annualized dividend yield of 3.4% despite a high payout ratio of 120.95%.

American Century Companies Inc. raised its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 77.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,808 shares of the real estate investment trust's stock after buying an additional 118,788 shares during the quarter. American Century Companies Inc. owned about 0.52% of EastGroup Properties worth $48,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EGP. Citizens National Bank Trust Department bought a new stake in EastGroup Properties in the 1st quarter valued at approximately $26,000. Assetmark Inc. raised its stake in shares of EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 145 shares in the last quarter. Mather Group LLC. raised its stake in shares of EastGroup Properties by 74.2% during the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 155 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of EastGroup Properties by 387.4% during the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 337 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of EastGroup Properties by 31.9% during the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 108 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of EGP stock traded up $5.6730 on Friday, hitting $169.4530. 255,177 shares of the company's stock were exchanged, compared to its average volume of 390,143. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.21. The stock has a market cap of $9.04 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 3.33 and a beta of 0.98. The company has a 50 day moving average of $166.27 and a 200 day moving average of $169.25.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The business had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same period in the prior year, the company earned $2.05 EPS. EastGroup Properties's revenue for the quarter 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. On average, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EGP shares. Robert W. Baird decreased their target price on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Truist Financial decreased their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Barclays decreased their target price on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Evercore ISI upped their price objective on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $189.31.

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.