United Services Automobile Association Purchases Shares of 3,214 EastGroup Properties, Inc. $EGP

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 bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,214 shares of the real estate investment trust's stock, valued at approximately $567,000.

Several other hedge funds have also added to or reduced their stakes in the business. Covestor Ltd boosted its position in EastGroup Properties by 5.6% during the 1st quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust's stock worth $205,000 after buying an additional 62 shares during the period. Bar Harbor Wealth Management boosted its position in EastGroup Properties by 0.3% during the 1st quarter. Bar Harbor Wealth Management now owns 23,344 shares of the real estate investment trust's stock worth $4,112,000 after buying an additional 66 shares during the period. Optas LLC boosted its position in EastGroup Properties by 5.1% during the 1st quarter. Optas LLC now owns 1,397 shares of the real estate investment trust's stock worth $246,000 after buying an additional 68 shares during the period. KBC Group NV boosted its position in EastGroup Properties by 3.5% during the 1st quarter. KBC Group NV now owns 2,058 shares of the real estate investment trust's stock worth $363,000 after buying an additional 69 shares during the period. Finally, Moran Wealth Management LLC lifted its position in shares of EastGroup Properties by 1.1% in the 1st quarter. Moran Wealth Management LLC now owns 6,521 shares of the real estate investment trust's stock worth $1,149,000 after purchasing an additional 73 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

NYSE EGP traded down $0.73 during trading on Friday, hitting $166.94. 393,453 shares of the company's stock traded hands, compared to its average volume of 362,123. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 3.42 and a beta of 1.01. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50 day moving average of $165.45 and a 200-day moving average of $168.10.

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

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date is Tuesday, September 30th. EastGroup Properties's dividend payout ratio (DPR) is currently 120.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EGP shares. Morgan Stanley boosted their price target 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. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the company an "overweight" rating in a research report on Sunday, July 13th. Finally, Royal Bank Of Canada dropped their target price on shares of 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 issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, EastGroup Properties presently 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.