EastGroup Properties, Inc. (NYSE:EGP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $213.0556.

Several brokerages have weighed in on EGP. Truist Financial boosted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Barclays lifted their price target on shares of EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp boosted their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday. Raymond James Financial started coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price objective on the stock. Finally, BTIG Research lifted their target price on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st.

Insider Activity at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the sale, the director directly owned 3,531 shares of the company’s stock, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EastGroup Properties

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in shares of EastGroup Properties by 18,900.0% in the 1st 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 last quarter. Goldman Sachs Group Inc. boosted its stake in EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after acquiring an additional 41,538 shares during the last quarter. Jane Street Group LLC boosted its stake in EastGroup Properties by 309.8% during the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after acquiring an additional 12,003 shares during the last quarter. Focus Partners Wealth grew its holdings in EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after purchasing an additional 130 shares during the period. Finally, Cetera Investment Advisers grew its holdings in EastGroup Properties by 1.9% during the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Up 4.7%

NYSE EGP opened at $223.11 on Friday. The stock has a market capitalization of $11.99 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. EastGroup Properties has a 52 week low of $159.37 and a 52 week high of $223.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a fifty day moving average of $204.83 and a 200-day moving average of $194.72.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.50. The business had revenue of $190.26 million for the quarter, compared to analyst estimates 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 for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 earnings per share. 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 9.59 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio (DPR) is currently 112.73%.

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.