American Century Companies Inc. Boosts Stock Position in 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. boosted its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 77.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 272,808 shares of the real estate investment trust's stock after buying an additional 118,788 shares during the period. American Century Companies Inc. owned 0.52% of EastGroup Properties worth $48,055,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department acquired a new stake in EastGroup Properties in the 1st quarter worth about $26,000. Assetmark Inc. boosted its stake in EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after buying an additional 145 shares during the last quarter. Mather Group LLC. boosted its stake in EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after buying an additional 155 shares during the last quarter. Parallel Advisors LLC boosted its stake in EastGroup Properties by 387.4% in the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after buying an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after buying an additional 108 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Down 0.8%

EastGroup Properties stock traded down $1.2730 during midday trading on Monday, hitting $168.2270. 230,828 shares of the company were exchanged, compared to its average volume of 379,792. The company's fifty day moving average price is $166.23 and its 200-day moving average price is $169.16. The company has a market cap of $8.97 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 3.45 and a beta of 0.98. 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 fifty-two week low of $137.67 and a fifty-two week high of $192.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) 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 company had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. During the same period in the previous year, the business earned $2.05 EPS. EastGroup Properties's revenue for the quarter was up 11.4% compared to the same quarter last year. 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, research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.20 annualized dividend and a yield of 3.7%. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's dividend payout ratio (DPR) is presently 120.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price objective on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company set a $215.00 price objective on EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th. Robert W. Baird reduced their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. Finally, Royal Bank Of Canada reduced their price objective on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.31.

EastGroup Properties Profile

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.