Ausbil Investment Management Ltd Has $1.93 Million Stake in EastGroup Properties, Inc. $EGP

Key Points

• Ausbil Investment Management Ltd reduced its stake in EastGroup Properties, Inc. by 23.4%, now holding shares worth approximately $1.93 million.
• EastGroup Properties announced a quarterly dividend increase to $1.55 per share, yielding 3.7%, with the new dividend payout ratio at 120.95%.
• Several analysts have issued positive upgrades for EastGroup Properties, with target prices ranging from $176.00 to $215.00, and an average rating of "Moderate Buy."

Ausbil Investment Management Ltd reduced its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 23.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,538 shares of the real estate investment trust's stock after selling 3,534 shares during the quarter. Ausbil Investment Management Ltd's holdings in EastGroup Properties were worth $1,928,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in EastGroup Properties by 4.4% during the second quarter. State of Alaska Department of Revenue now owns 31,404 shares of the real estate investment trust's stock valued at $5,247,000 after purchasing an additional 1,327 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of EastGroup Properties by 2.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 124,400 shares of the real estate investment trust's stock valued at $20,790,000 after buying an additional 2,706 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in shares of EastGroup Properties by 4.9% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 3,322 shares of the real estate investment trust's stock valued at $555,000 after buying an additional 155 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of EastGroup Properties in the 2nd quarter valued at $524,000. Finally, UMB Bank n.a. raised its stake in EastGroup Properties by 4.0% during the 2nd quarter. UMB Bank n.a. now owns 2,029 shares of the real estate investment trust's stock worth $339,000 after buying an additional 78 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EGP shares. Evercore ISI boosted their target price on EastGroup Properties from $176.00 to $180.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Wells Fargo & Company set a $215.00 price objective on EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Morgan Stanley raised their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 9th. Finally, 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 for the company in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $188.25.

EastGroup Properties Stock Up 1.7%

Shares of EGP stock opened at $168.34 on Friday. The firm's fifty day moving average price is $165.60 and its two-hundred day moving average price is $166.88. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $190.08. 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 firm has a market capitalization of $8.98 billion, a P/E ratio of 36.36, a PEG ratio of 3.43 and a beta of 1.01.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $175.80 million. During the same quarter in the previous year, the business earned $2.05 earnings per share. EastGroup Properties'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. On average, equities analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 3.7%. EastGroup Properties's dividend payout ratio is presently 120.95%.

EastGroup Properties Company 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.

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