Public Employees Retirement System of Ohio Purchases 2,706 Shares of EastGroup Properties, Inc. $EGP

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in EastGroup Properties by 2.2%, acquiring an additional 2,706 shares valued at approximately $20.79 million.
• EastGroup Properties announced a quarterly dividend increase from $1.40 to $1.55, with a dividend yield of 3.7% set to be paid on October 15th.
• Analysts have varying target prices for EastGroup Properties, with a current average target price of $188.25 and an average rating of "Moderate Buy".

Public Employees Retirement System of Ohio grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,400 shares of the real estate investment trust's stock after buying an additional 2,706 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.24% of EastGroup Properties worth $20,790,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in EastGroup Properties by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,198,279 shares of the real estate investment trust's stock worth $1,267,977,000 after buying an additional 207,329 shares during the period. Price T Rowe Associates Inc. MD increased its position in EastGroup Properties by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust's stock worth $232,184,000 after buying an additional 342,620 shares during the period. Principal Financial Group Inc. increased its position in EastGroup Properties by 234.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust's stock worth $215,267,000 after buying an additional 856,971 shares during the period. Boston Partners increased its position in EastGroup Properties by 13.8% during the 1st quarter. Boston Partners now owns 1,202,462 shares of the real estate investment trust's stock worth $211,761,000 after buying an additional 146,230 shares during the period. Finally, Nuveen LLC bought a new position in EastGroup Properties during the 1st quarter worth $190,456,000. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

NYSE:EGP opened at $165.57 on Friday. The stock's 50-day simple moving average is $165.54 and its 200 day simple moving average is $167.08. The firm has a market capitalization of $8.83 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. 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 twelve month low of $137.67 and a twelve month high of $190.08.

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 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.01. The business had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.EastGroup Properties's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. 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 anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $1.55 dividend. This is a boost from EastGroup Properties's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 30th. EastGroup Properties's dividend payout ratio is 120.95%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley increased their target price on EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 9th. Royal Bank Of Canada reduced their target price on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 29th. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Evercore ISI increased their target price on EastGroup Properties from $176.00 to $180.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.25.

About EastGroup Properties

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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