EastGroup Properties, Inc. $EGP Stock Position Boosted by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

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 lifted its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 0.79% of EastGroup Properties worth $73,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGP. Ameriprise Financial Inc. boosted its stake in shares of EastGroup Properties by 2.6% during the 4th quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust's stock worth $12,232,000 after acquiring an additional 1,964 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of EastGroup Properties by 4.0% in the 4th quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust's stock worth $495,000 after buying an additional 119 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of EastGroup Properties by 13.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust's stock worth $583,000 after purchasing an additional 422 shares during the period. Ethic Inc. boosted its stake in shares of EastGroup Properties by 18.9% during the 4th quarter. Ethic Inc. now owns 1,659 shares of the real estate investment trust's stock worth $266,000 after purchasing an additional 264 shares during the period. Finally, Focus Partners Wealth boosted its stake in shares of EastGroup Properties by 36.0% during the 4th quarter. Focus Partners Wealth now owns 5,973 shares of the real estate investment trust's stock worth $959,000 after purchasing an additional 1,580 shares during the period. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

EGP has been the topic of a number of research reports. Morgan Stanley raised 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 report on Tuesday, September 9th. Royal Bank Of Canada cut their price target on shares of 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 price target on shares of EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Evercore ISI lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties presently has an average rating of "Moderate Buy" and an average target price of $188.25.

EastGroup Properties Trading Up 1.6%

NYSE:EGP traded up $2.58 on Thursday, hitting $168.52. The stock had a trading volume of 304,407 shares, compared to its average volume of 363,738. 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 stock has a market cap of $8.99 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 3.38 and a beta of 1.01. The company has a fifty day moving average price of $165.43 and a two-hundred day moving average price of $167.70. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.21.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 34.85% and a return on equity of 7.29%. The company's revenue was up 11.4% on a year-over-year basis. During the same period last year, the business 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. Equities research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. EastGroup Properties's dividend payout ratio (DPR) is presently 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.