Wells Fargo & Company Boosts EastGroup Properties (NYSE:EGP) Price Target to $221.00

EastGroup Properties (NYSE:EGP) had its price target raised by equities researchers at Wells Fargo & Company from $213.00 to $221.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.32% from the company’s previous close.

A number of other brokerages have also recently weighed in on EGP. Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Royal Bank Of Canada boosted their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Robert W. Baird raised their price target on EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Truist Financial boosted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target of $208.07.

EastGroup Properties Stock Down 1.7%

Shares of EGP traded down $3.38 during trading hours on Monday, hitting $198.54. 25,237 shares of the company were exchanged, compared to its average volume of 365,915. The company has a market cap of $10.67 billion, a PE ratio of 36.14, a PEG ratio of 3.03 and a beta of 1.04. The firm’s 50 day moving average is $196.79 and its 200-day moving average is $188.75. EastGroup Properties has a 52 week low of $159.37 and a 52 week high of $207.72. 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 (NYSE:EGP) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. The business had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities research analysts forecast that EastGroup Properties will post 9.57 EPS for the current fiscal year.

Institutional Investors Weigh In On EastGroup Properties

Institutional investors have recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC boosted its stake in EastGroup Properties by 15.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock worth $9,284,000 after acquiring an additional 7,212 shares during the last quarter. Principal Financial Group Inc. increased its stake in EastGroup Properties by 43.5% in the third quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock valued at $336,076,000 after purchasing an additional 602,253 shares in the last quarter. Citigroup Inc. raised its holdings in EastGroup Properties by 38.3% in the third quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock worth $10,403,000 after purchasing an additional 17,009 shares during the period. DigitalBridge Group Inc. bought a new position in shares of EastGroup Properties during the third quarter worth $1,574,000. Finally, Channing Capital Management LLC boosted its position in shares of EastGroup Properties by 14.5% during the third quarter. Channing Capital Management LLC now owns 55,184 shares of the real estate investment trust’s stock worth $9,340,000 after purchasing an additional 7,004 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Company Profile

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.