EastGroup Properties (NYSE:EGP) Downgraded to Neutral Rating by Mizuho

EastGroup Properties (NYSE:EGP) was downgraded by equities researchers at Mizuho from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $172.00 price objective on the real estate investment trust’s stock. Mizuho’s price target would indicate a potential downside of 4.57% from the company’s current price.

EGP has been the topic of several other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of EastGroup Properties in a research note on Monday. BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target on the stock in a report on Monday, October 27th. Barclays raised EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research report on Thursday. Truist Financial boosted their price objective on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, Industrial Alliance Securities set a $200.00 target price on shares of EastGroup Properties in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.89.

EastGroup Properties Stock Up 0.6%

Shares of NYSE:EGP opened at $180.24 on Thursday. The firm has a market capitalization of $9.62 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. EastGroup Properties has a 1 year low of $137.67 and a 1 year high of $188.89. 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 firm’s 50-day moving average is $176.12 and its two-hundred day moving average is $170.30.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 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 business had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same period in the previous year, the business posted $2.13 EPS. The company’s revenue for the quarter 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 and its Q4 2025 guidance at 2.300-2.340 EPS. Analysts predict that EastGroup Properties will post 8.94 EPS for the current year.

Insider Buying and Selling at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its holdings in shares of EastGroup Properties by 159.7% in the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. State of Wyoming bought a new position in EastGroup Properties during the second quarter worth $27,000. MAI Capital Management boosted its holdings in EastGroup Properties by 83.7% in the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 82 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in EastGroup Properties in the third quarter worth $34,000. Finally, Mather Group LLC. bought a new stake in EastGroup Properties during the third quarter valued at $35,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

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.