3,214 Shares in EastGroup Properties, Inc. $EGP Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association invested approximately $567,000 in EastGroup Properties, acquiring 3,214 shares during the first quarter.
• EastGroup Properties recently declared a quarterly dividend of $1.55 per share, up from the previous dividend of $1.40, representing a 3.8% yield.
• Analysts have mixed ratings on EastGroup Properties, with a current average rating of "Moderate Buy" and a target price of $188.25.

United Services Automobile Association acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,214 shares of the real estate investment trust's stock, valued at approximately $567,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of EastGroup Properties during the first quarter valued at approximately $219,000. Goldman Sachs Group Inc. increased its position in shares of EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust's stock valued at $33,494,000 after purchasing an additional 41,538 shares during the period. Jones Financial Companies Lllp grew its position in EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust's stock valued at $167,000 after acquiring an additional 945 shares during the period. UniSuper Management Pty Ltd grew its position in EastGroup Properties by 0.7% in the first quarter. UniSuper Management Pty Ltd now owns 13,900 shares of the real estate investment trust's stock valued at $2,448,000 after acquiring an additional 100 shares during the period. Finally, Sandler Capital Management bought a new stake in EastGroup Properties in the first quarter valued at $3,622,000. 92.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on EGP. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Evercore ISI upped their price target on EastGroup Properties from $176.00 to $180.00 and gave the company an "in-line" rating in a research report on Monday. Morgan Stanley upped their price target on EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. Finally, Royal Bank Of Canada lowered their price target on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 29th. One equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $188.25.

EastGroup Properties Stock Up 0.7%

Shares of NYSE EGP traded up $1.22 during mid-day trading on Monday, reaching $168.17. 67,463 shares of the company's stock were exchanged, compared to its average volume of 426,117. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 36.28, a PEG ratio of 3.40 and a beta of 1.01. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $165.45 and a 200 day simple moving average of $167.95. 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 released 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 company 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 quarter 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. As a group, equities analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given 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 of this dividend is Tuesday, September 30th. EastGroup Properties's payout ratio is 120.95%.

EastGroup Properties 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.