EP Wealth Advisors LLC Invests $269,000 in EastGroup Properties, Inc. $EGP

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Citizens National Bank Trust Department acquired a new stake in shares of EastGroup Properties in the first quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 145 shares during the period. Mather Group LLC. grew its holdings in EastGroup Properties by 74.2% during the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after acquiring an additional 155 shares during the period. Parallel Advisors LLC grew its holdings in EastGroup Properties by 387.4% during the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 337 shares during the period. Finally, Bessemer Group Inc. grew its holdings in EastGroup Properties by 31.9% during the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 108 shares during the period. Institutional investors and hedge funds own 92.14% of the company's stock.

Analysts Set New Price Targets

EGP has been the subject of a number of analyst reports. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Morgan Stanley lifted 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. Finally, Royal Bank Of Canada lowered 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $188.25.

EastGroup Properties Stock Down 0.4%

NYSE:EGP traded down $0.73 on Friday, hitting $166.94. 393,453 shares of the company's stock were exchanged, compared to its average volume of 362,123. The firm has a 50-day moving average price of $165.45 and a 200-day moving average price of $168.03. 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 52 week low of $137.67 and a 52 week high of $192.21. The company has a market cap of $8.90 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.01.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm 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. As a group, analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend 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 133.91%.

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.