EastGroup Properties, Inc. (NYSE:EGP) Announces $1.55 Quarterly Dividend

EastGroup Properties, Inc. (NYSE:EGP) declared a quarterly dividend on Thursday, May 21st. Stockholders of record on Tuesday, June 30th will be given a dividend of 1.55 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th.

EastGroup Properties has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. EastGroup Properties has a dividend payout ratio of 117.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect EastGroup Properties to earn $10.20 per share next year, which means the company should continue to be able to cover its $6.20 annual dividend with an expected future payout ratio of 60.8%.

EastGroup Properties Stock Up 0.0%

EastGroup Properties stock opened at $205.07 on Friday. The company has a 50-day simple moving average of $194.87 and a 200-day simple moving average of $187.51. The firm has a market capitalization of $11.02 billion, a P/E ratio of 37.28, a P/E/G ratio of 3.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. EastGroup Properties has a one year low of $159.37 and a one year high of $206.78.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping the consensus estimate of $1.27 by $0.50. The business had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities analysts expect that EastGroup Properties will post 9.56 earnings per share for the current year.

Hedge Funds Weigh In On EastGroup Properties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in EastGroup Properties by 3.8% in the 1st quarter. Bank of America Corp DE now owns 431,278 shares of the real estate investment trust’s stock valued at $79,825,000 after buying an additional 15,722 shares in the last quarter. Amundi grew its position in EastGroup Properties by 3.6% in the 1st quarter. Amundi now owns 29,393 shares of the real estate investment trust’s stock valued at $5,440,000 after buying an additional 1,030 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in EastGroup Properties by 3.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust’s stock valued at $373,000 after buying an additional 75 shares in the last quarter. California State Teachers Retirement System grew its position in EastGroup Properties by 22.7% in the 1st quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock valued at $11,493,000 after buying an additional 11,504 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in EastGroup Properties by 2.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 272,324 shares of the real estate investment trust’s stock valued at $50,404,000 after buying an additional 7,301 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.