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

Key Points

• Osterweis Capital Management Inc. increased its holdings in EastGroup Properties by 1.3%, owning approximately $37.43 million worth of shares, making it the 29th largest holding in their investment portfolio.
• Besides Osterweis, other institutional investors like Nuveen LLC and Principal Financial Group Inc. have also significantly increased their stakes in EastGroup Properties, highlighting strong institutional interest in the company.
• EastGroup Properties announced quarterly earnings of $2.21 per share, slightly above analyst estimates, and declared a quarterly dividend of $1.40, reflecting a dividend yield of 3.4%.

Osterweis Capital Management Inc. raised its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,509 shares of the real estate investment trust's stock after purchasing an additional 2,689 shares during the quarter. EastGroup Properties accounts for about 0.0% of Osterweis Capital Management Inc.'s holdings, making the stock its 29th biggest holding. Osterweis Capital Management Inc. owned approximately 0.40% of EastGroup Properties worth $37,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Barclays PLC lifted its holdings in shares of EastGroup Properties by 92.1% in the 4th quarter. Barclays PLC now owns 61,581 shares of the real estate investment trust's stock worth $9,883,000 after acquiring an additional 29,521 shares during the last quarter. Mariner LLC increased its stake in shares of EastGroup Properties by 4.7% in the fourth quarter. Mariner LLC now owns 5,516 shares of the real estate investment trust's stock worth $885,000 after buying an additional 246 shares during the period. GeoWealth Management LLC increased its stake in shares of EastGroup Properties by 67.1% in the fourth quarter. GeoWealth Management LLC now owns 867 shares of the real estate investment trust's stock worth $139,000 after buying an additional 348 shares during the period. First Trust Advisors LP increased its stake in shares of EastGroup Properties by 3.1% in the fourth quarter. First Trust Advisors LP now owns 23,541 shares of the real estate investment trust's stock worth $3,778,000 after buying an additional 710 shares during the period. Finally, Natixis purchased a new position in shares of EastGroup Properties in the fourth quarter worth $824,000. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Price Performance

EGP traded up $5.6730 during trading on Friday, reaching $169.4530. 255,177 shares of the company traded hands, compared to its average volume of 390,143. 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 12-month low of $137.67 and a 12-month high of $192.21. The firm has a fifty day simple moving average of $166.27 and a 200 day simple moving average of $169.25. The company has a market cap of $9.04 billion, a P/E ratio of 36.60, a PEG ratio of 3.33 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 business had revenue of $177.29 million during the quarter, compared to analyst estimates of $175.80 million. During the same period last year, the firm posted $2.05 EPS. The company's 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. On average, equities analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $1.55 dividend. 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 3.7%. EastGroup Properties's dividend payout ratio (DPR) is 120.95%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EGP. Robert W. Baird decreased their target price on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Truist Financial lowered their target price on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Barclays lowered their price objective on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Royal Bank Of Canada lowered their price objective on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. One 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $189.31.

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.