EastGroup Properties (NYSE:EGP) Sets New 12-Month High on Analyst Upgrade

EastGroup Properties, Inc. (NYSE:EGP)’s stock price hit a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $205.00 to $215.00. Truist Financial currently has a buy rating on the stock. EastGroup Properties traded as high as $203.78 and last traded at $203.5550, with a volume of 103521 shares traded. The stock had previously closed at $200.40.

Several other equities analysts also recently weighed in on EGP. Cantor Fitzgerald reiterated an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft downgraded shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price target on the stock. in a report on Monday, January 5th. Evercore set a $195.00 price target on shares of EastGroup Properties in a report on Friday, April 24th. Morgan Stanley increased their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Finally, Citigroup increased their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EGP. State of Wyoming purchased a new position in shares of EastGroup Properties during the 2nd quarter valued at approximately $27,000. MAI Capital Management lifted its position in shares of EastGroup Properties by 83.7% during the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 82 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of EastGroup Properties during the 3rd quarter valued at approximately $34,000. Mather Group LLC. purchased a new position in shares of EastGroup Properties during the 3rd quarter valued at approximately $35,000. Finally, Parallel Advisors LLC lifted its position in shares of EastGroup Properties by 53.5% during the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Up 1.4%

The stock has a market cap of $10.92 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 2.99 and a beta of 1.05. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $192.30 and a 200-day moving average price of $185.37.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. The firm 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 business’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, analysts forecast that EastGroup Properties, Inc. will post 9.56 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $1.55 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.1%. EastGroup Properties’s dividend payout ratio (DPR) is presently 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.