EastGroup Properties, Inc. $EGP Position Lowered by Vaughan Nelson Investment Management L.P.

Key Points

• Vaughan Nelson Investment Management L.P. has reduced its stake in EastGroup Properties by 60.0%, currently owning about 0.39% of the company valued at approximately $33.8 million.
• EastGroup Properties reported earnings of $2.21 EPS for the last quarter, slightly exceeding analyst expectations, with a year-over-year revenue increase of 11.4%.
• The company recently increased its quarterly dividend from $1.40 to $1.55 per share, reflecting a 3.6% dividend yield.

Vaughan Nelson Investment Management L.P. decreased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 60.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,517 shares of the real estate investment trust's stock after selling 304,318 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.39% of EastGroup Properties worth $33,845,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System raised its stake in EastGroup Properties by 0.9% during the first quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust's stock worth $9,447,000 after acquiring an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of EastGroup Properties by 211.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust's stock valued at $748,000 after purchasing an additional 2,877 shares during the period. Bessemer Group Inc. increased its stake in shares of EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 108 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of EastGroup Properties in the first quarter valued at approximately $216,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of EastGroup Properties by 5.8% in the first quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust's stock valued at $28,121,000 after purchasing an additional 8,701 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Trading Up 0.6%

EastGroup Properties stock opened at $171.24 on Friday. The company has a 50 day moving average price of $165.97 and a 200 day moving average price of $166.67. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $188.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 36.98, a P/E/G ratio of 3.47 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued 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. The company had revenue of $177.29 million during the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $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. Research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. EastGroup Properties's payout ratio is presently 133.91%.

Analysts Set New Price Targets

EGP has been the topic of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of EastGroup Properties in a research note on Saturday, September 27th. Cantor Fitzgerald initiated coverage on shares of EastGroup Properties in a research note on Wednesday. They issued an "overweight" rating and a $190.00 price target on the stock. Royal Bank Of Canada dropped 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 note on Tuesday, July 29th. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Finally, Evercore ISI increased their price objective on shares of EastGroup Properties from $176.00 to $180.00 and gave the company an "in-line" rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.38.

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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