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

by · The Markets Daily

EastGroup Properties, Inc. (NYSE:EGP – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $210.1250.

A number of brokerages recently commented on EGP. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Wells Fargo & Company boosted their price objective on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Truist Financial boosted their price objective on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th.

Check Out Our Latest Analysis on EGP

EastGroup Properties Stock Performance

Shares of NYSE:EGP opened at $206.99 on Monday. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 3.07 and a beta of 1.04. EastGroup Properties has a 52 week low of $159.37 and a 52 week high of $207.72. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $202.02 and a 200 day moving average of $191.75.

EastGroup Properties (NYSE:EGP – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The company had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. EastGroup Properties’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous 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, sell-side analysts predict that EastGroup Properties will post 9.58 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.0%. EastGroup Properties’s dividend payout ratio is presently 112.73%.

Insider Activity

In other news, Director David Michael Fields sold 504 shares of the company’s 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 transaction, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On EastGroup Properties

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in shares of EastGroup Properties by 3.8% during the first quarter. Bank of America Corp DE now owns 431,278 shares of the real estate investment trust’s stock worth $79,825,000 after purchasing an additional 15,722 shares in the last quarter. Amundi grew its holdings in shares of EastGroup Properties by 3.6% during the first quarter. Amundi now owns 29,393 shares of the real estate investment trust’s stock valued at $5,440,000 after buying an additional 1,030 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of EastGroup Properties by 3.9% during the first quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust’s stock valued at $373,000 after buying an additional 75 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of EastGroup Properties by 22.7% during the first quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock valued at $11,493,000 after buying an additional 11,504 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of EastGroup Properties by 2.8% during the first quarter. The Manufacturers Life Insurance Company now owns 272,324 shares of the real estate investment trust’s stock valued at $50,404,000 after buying an additional 7,301 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Company Profile

(Get Free Report)

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.

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