EastGroup Properties (NYSE:EGP) Stock Price Expected to Rise, Truist Financial Analyst Says

EastGroup Properties (NYSE:EGP) had its price objective lifted by equities researchers at Truist Financial from $177.00 to $188.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 5.37% from the company’s current price.

A number of other brokerages have also recently issued reports on EGP. Evercore ISI cut their target price on EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a report on Monday, October 6th. Robert W. Baird raised their price objective on shares of EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Cantor Fitzgerald boosted their target price on shares of EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. 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 report on Tuesday, October 28th. Finally, Industrial Alliance Securities set a $200.00 price objective on EastGroup Properties in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.80.

EastGroup Properties Trading Down 0.6%

NYSE EGP traded down $1.01 on Wednesday, reaching $178.42. The company had a trading volume of 75,567 shares, compared to its average volume of 410,897. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 37.53, 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. EastGroup Properties has a fifty-two week low of $137.67 and a fifty-two week high of $188.89. The business has a 50 day moving average of $171.85 and a two-hundred day moving average of $168.91.

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

Insider Activity at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were 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 of the company’s stock, valued at approximately $3,610,250. This represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On EastGroup Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of EGP. Vanguard Group Inc. increased its stake in EastGroup Properties by 0.6% in the third quarter. Vanguard Group Inc. now owns 7,350,473 shares of the real estate investment trust’s stock valued at $1,244,141,000 after acquiring an additional 43,633 shares during the last quarter. State Street Corp boosted its holdings in shares of EastGroup Properties by 2.5% during the second quarter. State Street Corp now owns 2,667,793 shares of the real estate investment trust’s stock worth $449,491,000 after purchasing an additional 65,060 shares during the period. Principal Financial Group Inc. boosted its holdings in EastGroup Properties by 43.5% in the third quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock valued at $336,076,000 after acquiring an additional 602,253 shares in the last quarter. Norges Bank bought a new position in EastGroup Properties in the second quarter worth about $252,405,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of EastGroup Properties by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock valued at $232,184,000 after purchasing an additional 342,620 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

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.