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

Shares of EastGroup Properties, Inc. (NYSE:EGP) have earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $205.3333.

Several equities research analysts have commented on EGP shares. Royal Bank Of Canada upped their price target on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Citigroup upped their price target on EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Cantor Fitzgerald restated an “overweight” rating and set a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. Truist Financial upped their price target on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Evercore set a $195.00 price target on EastGroup Properties in a research note on Friday, April 24th.

Institutional Investors Weigh In On EastGroup Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in EastGroup Properties by 4.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,880 shares of the real estate investment trust’s stock worth $903,000 after acquiring an additional 221 shares during the last quarter. Convergence Investment Partners LLC grew its stake in shares of EastGroup Properties by 13.2% in the first quarter. Convergence Investment Partners LLC now owns 7,594 shares of the real estate investment trust’s stock valued at $1,406,000 after buying an additional 884 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of EastGroup Properties by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 799,996 shares of the real estate investment trust’s stock valued at $148,070,000 after buying an additional 26,727 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of EastGroup Properties by 42.0% in the first quarter. Parallel Advisors LLC now owns 990 shares of the real estate investment trust’s stock valued at $183,000 after buying an additional 293 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of EastGroup Properties by 0.3% in the first quarter. Swiss National Bank now owns 105,487 shares of the real estate investment trust’s stock valued at $19,525,000 after buying an additional 300 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $205.34 on Friday. The firm has a market capitalization of $11.04 billion, a P/E ratio of 37.33, a PEG ratio of 3.09 and a beta of 1.05. The stock has a fifty day moving average price of $192.79 and a 200 day moving average price of $185.72. EastGroup Properties has a 52 week low of $159.37 and a 52 week high of $206.78. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. The firm had revenue of $190.26 million during 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 quarterly revenue was up 9.1% compared to the same quarter last year. During the same period 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. Equities research analysts anticipate that EastGroup Properties will post 9.56 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $1.55 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s dividend payout ratio is currently 112.73%.

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.