Strs Ohio Makes New $25.95 Million Investment in EastGroup Properties, Inc. $EGP

Key Points

• Strs Ohio acquired a new stake in EastGroup Properties, purchasing 147,342 shares valued at approximately $25.95 million, representing about 0.28% of the company.
• EastGroup Properties recently reported a Q2 earnings per share of $2.21, exceeding analysts' estimates, and forecasted a positive guidance for Q3 2025 ranging between 2.220-2.300 EPS.
• The company announced a quarterly dividend increase to $1.55 per share, with a significant annual yield of 3.7%, compared to the previous $1.40 dividend.

Strs Ohio acquired a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 147,342 shares of the real estate investment trust's stock, valued at approximately $25,954,000. Strs Ohio owned about 0.28% of EastGroup Properties at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Citizens National Bank Trust Department purchased a new stake in shares of EastGroup Properties during the 1st quarter worth approximately $26,000. Assetmark Inc. lifted its position in shares of EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after buying an additional 145 shares during the last quarter. Mather Group LLC. raised its position in EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 155 shares during the last quarter. Parallel Advisors LLC raised its position in EastGroup Properties by 387.4% in the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Wall Street Analyst Weigh In

EGP has been the subject of several research reports. Evercore ISI upped their price target on shares of EastGroup Properties from $176.00 to $180.00 and gave the company an "in-line" rating in a research report on Monday. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Royal Bank Of Canada reduced 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. Finally, Morgan Stanley upped their price target on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.25.

EastGroup Properties Price Performance

NYSE EGP traded up $1.93 during trading hours on Thursday, reaching $167.87. The company's stock had a trading volume of 74,455 shares, compared to its average volume of 425,129. The stock has a market cap of $8.95 billion, a PE ratio of 36.26, a PEG ratio of 3.40 and a beta of 1.01. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.21. The company's 50-day moving average is $165.39 and its two-hundred day moving average is $167.81. 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 (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.01. The firm had revenue of $177.29 million for the quarter, compared to analysts' expectations of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 EPS. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Increases Dividend

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