EastGroup Properties (NYSE:EGP) Shares Gap Up – What’s Next?

Shares of EastGroup Properties, Inc. (NYSE:EGP) gapped up prior to trading on Friday . The stock had previously closed at $213.11, but opened at $221.43. EastGroup Properties shares last traded at $225.8650, with a volume of 15,870 shares.

Analysts Set New Price Targets

A number of analysts have commented on EGP shares. Cantor Fitzgerald restated an “overweight” rating and set a $217.00 price target on shares of EastGroup Properties in a research report 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 boosted their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Royal Bank Of Canada raised their price objective on EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley boosted their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $213.06.

EastGroup Properties Trading Up 0.4%

The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. 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 company has a fifty day moving average price of $204.83 and a 200-day moving average price of $194.72.

EastGroup Properties (NYSE:EGP) last released 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. The firm had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities research analysts predict that EastGroup Properties, Inc. will post 9.59 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is 112.73%.

Insider Activity

In other news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

Several hedge funds have recently added to or reduced their stakes in EGP. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of EastGroup Properties by 5.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock valued at $126,677,000 after acquiring an additional 34,515 shares during the period. Corient Private Wealth LLC grew its stake in shares of EastGroup Properties by 22.1% in the fourth quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock worth $5,260,000 after acquiring an additional 5,341 shares during the last quarter. Heartland Advisors Inc. increased its position in EastGroup Properties by 13.7% during the fourth quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust’s stock worth $7,607,000 after acquiring an additional 5,160 shares during the period. AE Wealth Management LLC increased its position in EastGroup Properties by 30.6% during the fourth quarter. AE Wealth Management LLC now owns 198,900 shares of the real estate investment trust’s stock worth $35,432,000 after acquiring an additional 46,653 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in EastGroup Properties by 14,736.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 126,558 shares of the real estate investment trust’s stock valued at $22,545,000 after purchasing an additional 125,705 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Company Profile

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.