OneAscent Investment Solutions LLC Invests $695,000 in EastGroup Properties, Inc. $EGP

Key Points

• OneAscent Investment Solutions LLC has acquired 3,943 shares of EastGroup Properties valued at approximately $695,000, making it the firm's 25th largest position.
• EastGroup Properties reported a quarterly earnings per share of $2.21, exceeding analyst expectations, with revenue up 11.4% year-over-year.
• The company recently declared a quarterly dividend of $1.40 per share, resulting in an annualized yield of 3.4%.

OneAscent Investment Solutions LLC acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,943 shares of the real estate investment trust's stock, valued at approximately $695,000. EastGroup Properties accounts for 0.8% of OneAscent Investment Solutions LLC's portfolio, making the stock its 25th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of EGP. Nuveen LLC acquired a new position in shares of EastGroup Properties in the 1st quarter valued at $190,456,000. Principal Financial Group Inc. lifted its stake in shares of EastGroup Properties by 234.7% in 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 purchasing an additional 856,971 shares during the period. Northern Trust Corp lifted its stake in shares of EastGroup Properties by 91.3% in the 4th quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust's stock valued at $130,189,000 after purchasing an additional 387,134 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of EastGroup Properties in the 1st quarter valued at $52,065,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of EastGroup Properties by 24.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock valued at $226,888,000 after purchasing an additional 273,217 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

EastGroup Properties Price Performance

Shares of EastGroup Properties stock traded up $4.3950 during trading hours on Tuesday, reaching $165.4950. 103,734 shares of the company's stock were exchanged, compared to its average volume of 431,687. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.21. The business has a fifty day moving average of $166.76 and a two-hundred day moving average of $169.35. The company has a market capitalization of $8.83 billion, a P/E ratio of 35.74, a price-to-earnings-growth ratio of 3.32 and a beta of 0.98.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data 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. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm had revenue of $177.29 million during the quarter, compared to analyst estimates of $175.80 million. During the same quarter in the prior year, the firm posted $2.05 earnings per share. EastGroup Properties's quarterly revenue was up 11.4% on a year-over-year basis. 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, research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.40 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $5.60 annualized dividend and a yield of 3.4%. EastGroup Properties's dividend payout ratio (DPR) is 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.