EastGroup Properties, Inc. (NYSE:EGP) Receives $221.68 Average Target Price from Analysts

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been given an average rating of “Moderate Buy” by the eighteen brokerages that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $221.6842.

Several equities analysts have commented on EGP shares. Wells Fargo & Company raised their target price on shares of EastGroup Properties from $221.00 to $232.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Citigroup increased their price objective on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 24th. Robert W. Baird set a $221.00 price objective on shares of EastGroup Properties in a research note on Friday, July 31st. Raymond James Financial assumed coverage on EastGroup Properties in a report on Wednesday, June 17th. They set an “outperform” rating and a $241.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EGP. California State Teachers Retirement System boosted its stake in shares of EastGroup Properties by 20,246.3% during the 2nd quarter. California State Teachers Retirement System now owns 12,634,024 shares of the real estate investment trust’s stock worth $2,558,769,000 after acquiring an additional 12,571,929 shares in the last quarter. BlackRock Inc. acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at $1,553,186,000. Norges Bank acquired a new position in shares of EastGroup Properties in the 4th quarter valued at $281,054,000. Deutsche Bank AG purchased a new position in EastGroup Properties in the 2nd quarter worth about $114,775,000. Finally, Bank of America Corp DE acquired a new stake in EastGroup Properties during the 2nd quarter worth about $94,505,000. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $198.09 on Friday. EastGroup Properties has a 12-month low of $164.26 and a 12-month high of $226.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 2.87 and a beta of 1.01. The business has a 50 day simple moving average of $206.11 and a 200 day simple moving average of $200.38.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, equities research analysts anticipate that EastGroup Properties will post 9.6 EPS for the current year.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 3.5%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, September 30th. EastGroup Properties’s payout ratio is currently 122.81%.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust that owns, develops, acquires and operates industrial properties. The company focuses primarily on business distribution space, including functional warehouse and light industrial facilities designed to support local and regional distribution, manufacturing and service businesses.

EastGroup concentrates its portfolio in major Sun Belt markets, with a presence in states including Arizona, California, Florida, Georgia, Nevada, North Carolina, Oklahoma, Tennessee and Texas.