EastGroup Properties, Inc. (NYSE:EGP) Receives Average Rating of “Moderate Buy” from Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has received an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $208.0667.

EGP has been the subject of a number of research reports. KeyCorp upped their price objective on shares of EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $217.00 price objective on shares of EastGroup Properties in a research note on Monday, April 27th. Evercore set a $195.00 price target on shares of EastGroup Properties in a research report on Friday, April 24th. Truist Financial increased their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 7th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Renaissance Group LLC increased its stake in EastGroup Properties by 3.9% during the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 54 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in EastGroup Properties by 4.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock valued at $281,000 after purchasing an additional 60 shares in the last quarter. Azzad Asset Management Inc. ADV increased its stake in EastGroup Properties by 2.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 62 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of EastGroup Properties by 1.9% in the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 68 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of EastGroup Properties by 35.6% in the fourth quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 69 shares during the period. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $195.33 on Thursday. The firm’s 50 day simple moving average is $196.96 and its 200 day simple moving average is $188.86. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $10.50 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 3.03 and a beta of 1.04. EastGroup Properties has a 1-year low of $159.37 and a 1-year high of $207.72.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results 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 firm had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, analysts expect that EastGroup Properties will post 9.57 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.2%. EastGroup Properties’s dividend payout ratio is 112.73%.

About EastGroup Properties

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.