Knights of Columbus Asset Advisors LLC Invests $1.68 Million in EastGroup Properties, Inc. $EGP

Key Points

• Knights of Columbus Asset Advisors LLC invested approximately $1.68 million in EastGroup Properties by purchasing 10,031 shares during the second quarter.
• EastGroup Properties announced a quarterly dividend of $1.55 per share, up from the previous dividend of $1.40, indicating a positive trend in shareholder returns.
• Several hedge funds increased their stakes in EastGroup Properties, signifying heightened institutional interest, with approximately 92.14% of the stock currently owned by institutional investors.

Knights of Columbus Asset Advisors LLC purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,031 shares of the real estate investment trust's stock, valued at approximately $1,676,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of EastGroup Properties during the second quarter worth about $111,000. HB Wealth Management LLC grew its holdings in shares of EastGroup Properties by 38.0% during the second quarter. HB Wealth Management LLC now owns 2,338 shares of the real estate investment trust's stock worth $391,000 after purchasing an additional 644 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in EastGroup Properties by 4.4% in 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 acquiring an additional 1,327 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in EastGroup Properties by 2.2% in the second 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 acquiring an additional 2,706 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in EastGroup Properties by 4.9% in the second 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 acquiring an additional 155 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Price Performance

Shares of EGP opened at $171.81 on Tuesday. 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 business's 50 day moving average price is $166.18 and its two-hundred day moving average price is $166.50. The firm has a market cap of $9.16 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 3.49 and a beta of 1.02.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The firm had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. During the same period in the previous year, the firm earned $2.05 earnings per share. The company's revenue was up 11.4% compared to the same quarter last year. 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 anticipate that EastGroup Properties, Inc. will post 8.94 EPS 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 given a dividend of $1.55 per share. The ex-dividend date of this dividend 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 dividend yield of 3.6%. EastGroup Properties's payout ratio is currently 133.91%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EGP. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Cantor Fitzgerald began coverage on EastGroup Properties in a report on Wednesday, October 1st. They issued an "overweight" rating and a $190.00 target price on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of EastGroup Properties in a report on Saturday, September 27th. Evercore ISI reduced their target price on EastGroup Properties from $180.00 to $179.00 and set an "in-line" rating on the stock in a report on Monday. Finally, Morgan Stanley upped their target price on EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $188.31.

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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