EastGroup Properties (NYSE:EGP) Price Target Raised to $210.00

EastGroup Properties (NYSE:EGP) had its price objective raised by investment analysts at Robert W. Baird from $208.00 to $210.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s target price would suggest a potential upside of 4.91% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $217.00 price objective on shares of EastGroup Properties in a research report on Monday. Truist Financial lifted their price objective on EastGroup Properties from $203.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Piper Sandler lifted their price objective on EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price on the stock. in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

EastGroup Properties Stock Performance

Shares of NYSE:EGP opened at $200.18 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The business’s 50 day moving average price is $191.62 and its 200-day moving average price is $184.51. The firm has a market capitalization of $10.76 billion, a PE ratio of 36.40, a P/E/G ratio of 3.22 and a beta of 1.09. EastGroup Properties has a 1 year low of $159.18 and a 1 year high of $203.60.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data 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. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. During the same quarter last year, the business posted $2.15 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities research analysts expect that EastGroup Properties will post 9.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EastGroup Properties

Several institutional investors and hedge funds have recently modified their holdings of the company. Aptus Capital Advisors LLC raised its position in EastGroup Properties by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock valued at $9,284,000 after purchasing an additional 7,212 shares in the last quarter. Principal Financial Group Inc. increased 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 buying an additional 602,253 shares during the last quarter. Nordea Investment Management AB raised its stake in EastGroup Properties by 13.4% in the third quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock valued at $13,912,000 after buying an additional 9,776 shares in the last quarter. Citigroup Inc. lifted its holdings in EastGroup Properties by 38.3% during the 3rd quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock worth $10,403,000 after buying an additional 17,009 shares during the last quarter. Finally, DigitalBridge Group Inc. purchased a new stake in EastGroup Properties during the 3rd quarter worth about $1,574,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

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.