EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Rating of “Moderate Buy” by Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has received an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $221.1053.

Several equities analysts have recently weighed in on EGP shares. Morgan Stanley lifted their price objective on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Wells Fargo & Company raised their target price on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Robert W. Baird set a $221.00 price target on shares of EastGroup Properties in a research note on Friday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $235.00 price target on shares of EastGroup Properties in a report on Monday, July 27th. Finally, Royal Bank Of Canada increased their price objective on shares of EastGroup Properties from $208.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd.

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of EastGroup Properties during the second quarter worth about $1,553,186,000. Norges Bank bought a new stake in EastGroup Properties in the 4th quarter valued at approximately $281,054,000. Deutsche Bank AG acquired a new position in EastGroup Properties during the 2nd quarter worth approximately $114,775,000. Bank of New York Mellon Corp acquired a new position in EastGroup Properties during the 2nd quarter worth approximately $93,282,000. Finally, Principal Financial Group Inc. grew its stake in shares of EastGroup Properties by 16.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust’s stock worth $410,404,000 after acquiring an additional 318,261 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $203.04 on Tuesday. The company has a market capitalization of $10.92 billion, a PE ratio of 35.62, a PEG ratio of 3.04 and a beta of 1.02. EastGroup Properties has a 12 month low of $160.79 and a 12 month high of $226.71. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $207.60 and its 200 day simple moving average is $198.46.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. During the same period in the previous year, the firm earned $2.21 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, research analysts predict that EastGroup Properties will post 9.6 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, June 30th. EastGroup Properties’s payout ratio is currently 108.77%.

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.