Dimensional Fund Advisors LP Raises Holdings in EastGroup Properties, Inc. $EGP

Key Points

• Dimensional Fund Advisors LP increased its stake in EastGroup Properties by 4.5% during the first quarter, owning approximately 1.42% of the company valued at about $131.5 million.
• Recent reports show that EastGroup Properties has received a Moderate Buy average rating from analysts, with an average price target of $189.31 despite some brokerages adjusting their target prices.
• EastGroup Properties reported a net margin of 34.85% with a year-over-year revenue increase of 11.4% despite the stock experiencing a 0.8% decrease in share price recently.

Dimensional Fund Advisors LP grew its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 746,796 shares of the real estate investment trust's stock after buying an additional 32,213 shares during the quarter. Dimensional Fund Advisors LP owned 1.42% of EastGroup Properties worth $131,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of EastGroup Properties in the first quarter valued at $240,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of EastGroup Properties in the first quarter valued at $240,000. OneAscent Investment Solutions LLC acquired a new stake in shares of EastGroup Properties in the first quarter valued at $695,000. Vestmark Advisory Solutions Inc. grew its stake in shares of EastGroup Properties by 67.2% in the first quarter. Vestmark Advisory Solutions Inc. now owns 6,850 shares of the real estate investment trust's stock valued at $1,207,000 after buying an additional 2,752 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of EastGroup Properties by 14.3% in the first quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 8,000 shares of the real estate investment trust's stock valued at $1,409,000 after buying an additional 1,000 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EGP. Barclays dropped their price objective on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Royal Bank Of Canada dropped their price objective on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 29th. Robert W. Baird dropped their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Raymond James Financial reissued a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Finally, Truist Financial lowered their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $189.31.

EastGroup Properties Stock Up 1.1%

EGP traded up $1.84 on Wednesday, hitting $168.93. 451,866 shares of the company were exchanged, compared to its average volume of 358,845. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.21. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 36.49, a price-to-earnings-growth ratio of 3.40 and a beta of 0.98. 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 50-day moving average price of $166.13 and a two-hundred day moving average price of $169.14.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. The company had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.EastGroup Properties's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 EPS. 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 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. Stockholders of record on Tuesday, September 30th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's dividend payout ratio (DPR) is presently 120.95%.

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.