Price T Rowe Associates Inc. MD Has $232.18 Million Stock Position in EastGroup Properties, Inc. $EGP

Key Points

• Price T Rowe Associates Inc. MD increased its stake in EastGroup Properties by 35.1%, owning approximately 2.51% of the company, valued at $232.2 million as of the most recent SEC filing.
• EastGroup Properties plans to pay a quarterly dividend of $1.55 on October 15, representing a 3.7% yield and an increase from the previous dividend of $1.40.
• The company's Q2 earnings report surpassed analysts' expectations, with an EPS of $2.21 and revenue of $177.29 million, marking an 11.4% increase year-over-year.

Price T Rowe Associates Inc. MD increased its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 35.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,318,090 shares of the real estate investment trust's stock after buying an additional 342,620 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.51% of EastGroup Properties worth $232,184,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EGP. Mariner LLC increased its stake in EastGroup Properties by 4.7% in the 4th quarter. Mariner LLC now owns 5,516 shares of the real estate investment trust's stock worth $885,000 after purchasing an additional 246 shares in the last quarter. First Trust Advisors LP increased its position in EastGroup Properties by 3.1% in the 4th quarter. First Trust Advisors LP now owns 23,541 shares of the real estate investment trust's stock worth $3,778,000 after purchasing an additional 710 shares during the last quarter. Tower Research Capital LLC TRC increased its position in EastGroup Properties by 16.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,702 shares of the real estate investment trust's stock worth $755,000 after purchasing an additional 669 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of EastGroup Properties by 7.6% during the 4th quarter. Stifel Financial Corp now owns 13,646 shares of the real estate investment trust's stock valued at $2,190,000 after acquiring an additional 963 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of EastGroup Properties by 55.1% during the 4th quarter. Hsbc Holdings PLC now owns 80,792 shares of the real estate investment trust's stock valued at $12,963,000 after acquiring an additional 28,718 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Stock Performance

Shares of EGP stock traded up $1.29 during mid-day trading on Friday, reaching $169.63. The stock had a trading volume of 55,224 shares, compared to its average volume of 425,260. The firm's 50 day simple moving average is $166.07 and its 200 day simple moving average is $169.08. 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 one year low of $137.67 and a one year high of $192.21. The firm has a market cap of $9.05 billion, a PE ratio of 36.63, a P/E/G ratio of 3.44 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 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The company had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same quarter last year, the company earned $2.05 EPS. The company'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. On average, analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $1.55 per share. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. EastGroup Properties's dividend payout ratio is 133.91%.

Analysts Set New Price Targets

EGP has been the topic of a number of analyst reports. Wells Fargo & Company set a $215.00 price objective on EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Robert W. Baird lowered their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada decreased their target price on 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. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Finally, Truist Financial decreased their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, May 5th. One 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 stock. Based on data from MarketBeat.com, EastGroup Properties has an average rating of "Moderate Buy" and a consensus 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.