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

EastGroup Properties, Inc. (NYSE:EGP) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $190.80.

EGP has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of EastGroup Properties in a research report on Wednesday, November 5th. Truist Financial increased their price objective on EastGroup Properties from $177.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank Of Canada set a $183.00 target price on shares of EastGroup Properties and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. Wells Fargo & Company lifted their target price on shares of EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Cantor Fitzgerald increased their price target on shares of EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th.

Insider Transactions at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the executive vice president owned 20,630 shares in the company, valued at $3,610,250. The trade was a 8.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. OneDigital Investment Advisors LLC purchased a new stake in EastGroup Properties during the first quarter worth approximately $216,000. Envestnet Asset Management Inc. increased its position in shares of EastGroup Properties by 5.8% during the first quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust’s stock worth $28,121,000 after acquiring an additional 8,701 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in EastGroup Properties during the 1st quarter valued at approximately $226,000. Avantax Advisory Services Inc. increased its holdings in EastGroup Properties by 24.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,247 shares of the real estate investment trust’s stock worth $1,981,000 after purchasing an additional 2,178 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in EastGroup Properties by 1,058.6% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock worth $109,443,000 after purchasing an additional 567,678 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $176.39 on Friday. EastGroup Properties has a 12 month low of $137.67 and a 12 month high of $188.89. The firm has a market capitalization of $9.41 billion, a P/E ratio of 37.06, a P/E/G ratio of 3.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01. The company’s fifty day moving average price is $172.44 and its 200 day moving average price is $169.16.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. During the same quarter in the prior year, the company earned $2.13 EPS. The business’s revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. As a group, sell-side analysts predict that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.5%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, September 30th. EastGroup Properties’s payout ratio is currently 130.25%.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.