EastGroup Properties (NYSE:EGP) Reaches New 52-Week High – Should You Buy?

EastGroup Properties, Inc. (NYSE:EGP)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $216.98 and last traded at $214.5930, with a volume of 432448 shares. The stock had previously closed at $212.24.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Evercore set a $195.00 target price on EastGroup Properties in a research report on Friday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $217.00 target price on shares of EastGroup Properties in a research note on Monday, April 27th. BTIG Research boosted their price target on EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley increased their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.59.

EastGroup Properties Stock Performance

The business’s fifty day moving average is $203.24 and its two-hundred day moving average is $193.17. The stock has a market capitalization of $11.54 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45.

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, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same quarter last year, the business earned $2.15 earnings per share. EastGroup Properties’s quarterly 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, research analysts anticipate that EastGroup Properties, Inc. will post 9.58 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.9%. EastGroup Properties’s dividend payout ratio (DPR) is presently 112.73%.

Insider Buying and Selling

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties 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 completion of the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On EastGroup Properties

Institutional investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in shares of EastGroup Properties in the 2nd quarter worth approximately $27,000. Glen Eagle Advisors LLC raised its holdings in EastGroup Properties by 96.3% during the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 104 shares during the period. Parallel Advisors LLC lifted its position in EastGroup Properties by 53.5% in 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 last quarter. Clearstead Advisors LLC lifted its position in EastGroup Properties by 114.9% in the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 139 shares during the last quarter. Finally, Avalon Trust Co purchased a new position in EastGroup Properties during the first quarter worth $46,000. 92.14% of the stock is owned by institutional investors.

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.