JPMorgan Chase & Co. Upgrades EastGroup Properties (NYSE:EGP) to Overweight

EastGroup Properties (NYSE:EGP) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $231.00 price objective on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 14.17% from the stock’s current price.

EGP has been the subject of several other reports. Robert W. Baird set a $221.00 target price on shares of EastGroup Properties in a report on Friday, July 31st. BTIG Research raised their price objective on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of EastGroup Properties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 9th. Citigroup lifted their price target on EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $235.00 price objective on shares of EastGroup Properties in a research report on Monday, July 27th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $221.37.

EastGroup Properties Trading Down 0.1%

EastGroup Properties stock opened at $202.32 on Thursday. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. EastGroup Properties has a 1 year low of $166.08 and a 1 year high of $226.71. The firm’s 50 day moving average price is $203.96 and its two-hundred day moving average price is $200.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16.

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

Institutional Trading of EastGroup Properties

A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC raised its stake in shares of EastGroup Properties by 2.8% in the 2nd quarter. Tidal Investments LLC now owns 61,568 shares of the real estate investment trust’s stock valued at $12,469,000 after purchasing an additional 1,684 shares during the period. Van Hulzen Asset Management LLC raised its stake in shares of EastGroup Properties by 26.8% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 1,420 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 300 shares during the period. NorthRock Partners LLC acquired a new stake in shares of EastGroup Properties in the 2nd quarter valued at about $202,000. Integrated Wealth Concepts LLC acquired a new stake in shares of EastGroup Properties in the 2nd quarter valued at about $26,000. Finally, Squarepoint Ops LLC lifted its position in shares of EastGroup Properties by 415.1% in the second quarter. Squarepoint Ops LLC now owns 30,301 shares of the real estate investment trust’s stock worth $6,137,000 after purchasing an additional 24,419 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

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.