EastGroup Properties (NYSE:EGP) Hits New 12-Month High – Should You Buy?

EastGroup Properties, Inc. (NYSE:EGP)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $207.01 and last traded at $206.79, with a volume of 107961 shares traded. The stock had previously closed at $205.16.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EGP shares. KeyCorp upped their price target on EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Morgan Stanley upped their price target on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and issued a $217.00 price objective on shares of EastGroup Properties in a research note on Monday, April 27th. Robert W. Baird upped their price objective on EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Truist Financial boosted their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.40.

EastGroup Properties Stock Performance

The company’s fifty day moving average is $196.51 and its 200 day moving average is $188.57. The company has a market capitalization of $11.01 billion, a P/E ratio of 37.25, a P/E/G ratio of 3.09 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.

EastGroup Properties (NYSE:EGP) last issued its 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. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The business had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. During the same quarter last year, the company earned $2.15 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities analysts anticipate that EastGroup Properties, Inc. will post 9.57 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.0%. EastGroup Properties’s dividend payout ratio is currently 112.73%.

Institutional Trading of EastGroup Properties

Several institutional investors and hedge funds have recently modified their holdings of EGP. Norges Bank purchased a new stake in shares of EastGroup Properties in the 4th quarter valued at about $281,054,000. Principal Financial Group Inc. raised its position in shares of EastGroup Properties by 43.5% during the 3rd 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 buying an additional 602,253 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in EastGroup Properties by 98.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 566,295 shares of the real estate investment trust’s stock valued at $100,880,000 after acquiring an additional 280,819 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of EastGroup Properties by 619.9% in the 3rd quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust’s stock worth $50,324,000 after purchasing an additional 256,019 shares in the last quarter. Finally, Cohen & Steers Inc. raised its holdings in shares of EastGroup Properties by 7.0% during the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock valued at $545,746,000 after buying an additional 200,617 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

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.