Osterweis Capital Management Inc. Buys 2,689 Shares of EastGroup Properties, Inc. $EGP

Key Points

• Osterweis Capital Management Inc. increased its stake in EastGroup Properties by 1.3%, acquiring an additional 2,689 shares, bringing its total ownership to 212,509 shares valued at approximately $37.4 million.
• EastGroup Properties is raising its quarterly dividend from $1.40 to $1.55, which represents an annual yield of 3.7% and reflects a payout ratio of 120.95%.
• Analysts have set a consensus price target of $188.25 for EastGroup Properties, with varied ratings including one Strong Buy, six Buy, and six Hold ratings.

Osterweis Capital Management Inc. raised its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,509 shares of the real estate investment trust's stock after purchasing an additional 2,689 shares during the period. EastGroup Properties makes up approximately 0.0% of Osterweis Capital Management Inc.'s holdings, making the stock its 24th biggest position. Osterweis Capital Management Inc. owned 0.40% of EastGroup Properties worth $37,433,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EGP. Nuveen LLC bought a new stake in EastGroup Properties in the 1st quarter valued at $190,456,000. Principal Financial Group Inc. raised 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 buying an additional 856,971 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of EastGroup Properties by 1,058.6% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust's stock valued at $109,443,000 after buying an additional 567,678 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of EastGroup Properties by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust's stock valued at $232,184,000 after buying an additional 342,620 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of EastGroup Properties by 176.4% in the 1st quarter. Millennium Management LLC now owns 493,144 shares of the real estate investment trust's stock valued at $86,867,000 after buying an additional 314,738 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada dropped 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 note on Tuesday, July 29th. Morgan Stanley increased 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 note on Tuesday. Finally, Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $188.25.

EastGroup Properties Stock Up 2.6%

EGP opened at $167.67 on Friday. The firm's 50-day simple moving average is $165.50 and its 200-day simple moving average is $168.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.21. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.33 and a beta of 1.01.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm's quarterly 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. Equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $1.55 dividend. This is a boost 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 of this dividend is Tuesday, September 30th. EastGroup Properties's payout ratio 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.

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