EastGroup Properties (NYSE:EGP) Reaches New 12-Month High – Here’s Why

EastGroup Properties, Inc. (NYSE:EGP)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $207.01 and last traded at $206.79, with a volume of 107961 shares changing hands. The stock had previously closed at $205.16.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EGP shares. Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Royal Bank Of Canada lifted their price objective on EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 28th. Truist Financial lifted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Morgan Stanley lifted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.33.

EastGroup Properties Stock Up 0.9%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 37.65, a price-to-earnings-growth ratio of 3.09 and a beta of 1.05. The firm has a 50-day moving average price of $195.53 and a two-hundred day moving average price of $187.93.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The business had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. During the same quarter last year, the company earned $2.15 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, sell-side analysts forecast that EastGroup Properties, Inc. will post 9.56 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in EastGroup Properties during the second quarter worth approximately $27,000. MAI Capital Management increased its position in EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 82 shares during the period. Glen Eagle Advisors LLC increased its position in EastGroup Properties by 96.3% during the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 104 shares during the period. Parallel Advisors LLC increased its position in EastGroup Properties by 53.5% during the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 85 shares during the period. Finally, AlphaQuest LLC increased its position in EastGroup Properties by 26,500.0% during the third quarter. AlphaQuest LLC now owns 266 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds 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.