EastGroup Properties, Inc. (NYSE:EGP) Stock Has Consensus Target Price of $221.37

by · The Cerbat Gem

Shares of EastGroup Properties, Inc. (NYSE:EGP – Get Free Report) have earned an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $221.32.

EGP has been the topic of several recent research reports. KeyCorp raised their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Raymond James Financial assumed coverage on EastGroup Properties in a report on Wednesday, June 17th. They set an “outperform” rating and a $241.00 price objective for the company. Citigroup increased their price objective on EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their target price on EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a report on Monday, August 3rd. Finally, BTIG Research lifted their target price on EastGroup Properties from $218.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st.

View Our Latest Stock Report on EastGroup Properties

EastGroup Properties Stock Performance

Shares of EGP stock opened at $195.77 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $201.70 and a two-hundred day simple moving average of $201.25. EastGroup Properties has a 12 month low of $166.11 and a 12 month high of $226.71. The firm has a market capitalization of $10.53 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 2.84 and a beta of 1.00.

EastGroup Properties (NYSE:EGP – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Analysts forecast that EastGroup Properties will post 9.6 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.75 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, September 30th. This represents a $7.00 annualized dividend and a yield of 3.6%. EastGroup Properties’s dividend payout ratio (DPR) is 122.81%.

Hedge Funds Weigh In On EastGroup Properties

A number of hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of EastGroup Properties in the second quarter valued at about $26,000. CX Institutional lifted its position in shares of EastGroup Properties by 115.9% during the third quarter. CX Institutional now owns 149 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 80 shares in the last quarter. Glen Eagle Advisors LLC boosted its holdings in EastGroup Properties by 96.3% during the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 104 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in EastGroup Properties by 114.9% during the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 139 shares during the last quarter. Finally, Avalon Trust Co bought a new stake in EastGroup Properties in the 1st quarter worth about $46,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

About EastGroup Properties

(Get Free Report)

EastGroup Properties, Inc (NYSE: EGP) is a self-administered and self-managed equity real estate investment trust (REIT) that develops, acquires, owns and operates industrial properties. Its portfolio is primarily composed of distribution and warehouse facilities designed to support customers’ logistics, manufacturing and regional fulfillment needs.

The company focuses on functional, well-located industrial properties in major Sun Belt markets, with an emphasis on infill locations near population centers, transportation networks and business districts.

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