EP Wealth Advisors LLC Purchases New Position in EastGroup Properties, Inc. $EGP

EP Wealth Advisors LLC bought a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,528 shares of the real estate investment trust's stock, valued at approximately $269,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of EastGroup Properties by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust's stock valued at $1,267,977,000 after acquiring an additional 207,329 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in EastGroup Properties by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust's stock worth $232,184,000 after acquiring an additional 342,620 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of EastGroup Properties by 234.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust's stock valued at $215,267,000 after acquiring an additional 856,971 shares during the period. Boston Partners raised its holdings in EastGroup Properties by 13.8% during the first quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust's stock worth $211,761,000 after buying an additional 146,230 shares during the last quarter. Finally, Nuveen LLC acquired a new position in EastGroup Properties during the first quarter worth $190,456,000. Institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EGP shares. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th. Royal Bank Of Canada cut their target price 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. Finally, Morgan Stanley boosted their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has an average rating of "Moderate Buy" and a consensus price target of $188.25.

EastGroup Properties Stock Performance

EGP stock traded down $0.16 on Friday, hitting $167.51. The company's stock had a trading volume of 142,344 shares, compared to its average volume of 426,686. The firm has a 50 day moving average of $165.50 and a two-hundred day moving average of $168.21. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.21. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 3.33 and a beta of 1.01. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.01. The firm had revenue of $177.29 million for the quarter, compared to analysts' expectations of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company 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. Equities analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

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