UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $73.28 Million Stock Position in EastGroup Properties, Inc. $EGP

Key Points

• UBS Asset Management increased its holdings in EastGroup Properties by 10.1%, owning a total of 415,978 shares worth approximately $73.3 million as of the latest reporting period.
• EastGroup Properties declared a quarterly dividend of $1.55, up from the previous $1.40, with a 3.7% dividend yield.
• Analysts have set new price targets for EastGroup Properties, with Wells Fargo setting a target of $215.00 and Morgan Stanley raising theirs to $178.00, indicating varied but generally positive outlooks on the stock.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 10.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 415,978 shares of the real estate investment trust's stock after acquiring an additional 38,168 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.79% of EastGroup Properties worth $73,275,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Covestor Ltd raised its stake in shares of EastGroup Properties by 5.6% during the first quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust's stock valued at $205,000 after acquiring an additional 62 shares during the last quarter. Bar Harbor Wealth Management raised its stake in shares of EastGroup Properties by 0.3% during the first quarter. Bar Harbor Wealth Management now owns 23,344 shares of the real estate investment trust's stock valued at $4,112,000 after acquiring an additional 66 shares during the last quarter. Optas LLC raised its stake in shares of EastGroup Properties by 5.1% during the first quarter. Optas LLC now owns 1,397 shares of the real estate investment trust's stock valued at $246,000 after acquiring an additional 68 shares during the last quarter. KBC Group NV raised its stake in shares of EastGroup Properties by 3.5% during the first quarter. KBC Group NV now owns 2,058 shares of the real estate investment trust's stock valued at $363,000 after acquiring an additional 69 shares during the last quarter. Finally, Moran Wealth Management LLC raised its stake in shares of EastGroup Properties by 1.1% during the first quarter. Moran Wealth Management LLC now owns 6,521 shares of the real estate investment trust's stock valued at $1,149,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EGP shares. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Morgan Stanley lifted their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 9th. Evercore ISI lifted their target price on shares of EastGroup Properties from $176.00 to $180.00 and gave the stock an "in-line" rating in a research note on Monday. Finally, Royal Bank Of Canada lowered their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $188.25.

EastGroup Properties Stock Up 0.1%

NYSE:EGP traded up $0.09 during trading hours on Tuesday, reaching $166.83. The company had a trading volume of 407,207 shares, compared to its average volume of 427,894. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 36.03, a P/E/G ratio of 3.40 and a beta of 1.01. The business's 50-day simple moving average is $165.44 and its two-hundred day simple moving average is $167.83. 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 posted its quarterly earnings results 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. The business had revenue of $177.29 million during 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 business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company 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, equities analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. This is an increase 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%. The ex-dividend date is Tuesday, September 30th. EastGroup Properties's dividend payout ratio is 133.91%.

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.