EastGroup Properties, Inc. $EGP Stake Raised by Osterweis Capital Management Inc.

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. boosted its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 212,509 shares of the real estate investment trust's stock after buying an additional 2,689 shares during the period. EastGroup Properties makes up about 0.0% of Osterweis Capital Management Inc.'s investment portfolio, making the stock its 29th largest position. Osterweis Capital Management Inc. owned 0.40% of EastGroup Properties worth $37,433,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System raised its holdings in EastGroup Properties by 0.9% in the first quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust's stock valued at $9,447,000 after buying an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in EastGroup Properties by 211.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust's stock valued at $748,000 after buying an additional 2,877 shares during the period. Bessemer Group Inc. raised its holdings in EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after buying an additional 108 shares during the period. OneDigital Investment Advisors LLC purchased a new position in EastGroup Properties in the first quarter valued at approximately $216,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of EastGroup Properties by 5.8% during the first quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust's stock valued at $28,121,000 after purchasing an additional 8,701 shares during the period. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

EastGroup Properties stock traded down $1.0260 during mid-day trading on Monday, reaching $168.4740. The company's stock had a trading volume of 70,563 shares, compared to its average volume of 427,626. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 3.45 and a beta of 0.98. The business has a 50 day moving average price of $166.27 and a 200-day moving average price of $169.20. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, topping 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 the consensus estimate of $175.80 million. During the same quarter in the previous year, the company posted $2.05 earnings per share. The firm'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. Sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.55 per share. 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%. EastGroup Properties's payout ratio is currently 120.95%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EGP. Truist Financial dropped their price objective 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. Royal Bank Of Canada decreased their price target 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. Wall Street Zen raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Barclays decreased their price target 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, Raymond James Financial reissued a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average target price of $189.31.

EastGroup Properties 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.