EastGroup Properties, Inc. (NYSE:EGP) Receives Average Rating of “Moderate Buy” from Analysts

EastGroup Properties, Inc. (NYSE:EGP) has received an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $221.32.

A number of analysts recently weighed in on the stock. BTIG Research upped their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upgraded EastGroup Properties from a “neutral” rating to an “overweight” rating and set a $231.00 price objective on the stock in a research note on Thursday, September 24th. Barclays upped their price target on EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Evercore set a $199.00 price objective on shares of EastGroup Properties in a research report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $235.00 target price on shares of EastGroup Properties in a research report on Monday, July 27th.

Hedge Funds Weigh In On EastGroup Properties

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in EastGroup Properties during the 2nd quarter worth $1,553,186,000. Cohen & Steers Inc. raised its stake in EastGroup Properties by 7.0% during the fourth quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock valued at $545,746,000 after buying an additional 200,617 shares in the last quarter. Principal Financial Group Inc. raised its stake in EastGroup Properties by 1.1% during the first quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust’s stock valued at $431,028,000 after buying an additional 24,910 shares in the last quarter. Norges Bank acquired a new position in shares of EastGroup Properties in the 4th quarter worth approximately $281,054,000. Finally, Geode Capital Management LLC increased its holdings in shares of EastGroup Properties by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,153,355 shares of the real estate investment trust’s stock valued at $205,495,000 after acquiring an additional 26,191 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $193.09 on Wednesday. EastGroup Properties has a one year low of $166.11 and a one year high of $226.71. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16. The company has a 50 day moving average price of $201.07 and a 200 day moving average price of $201.40. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 2.95 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same period last year, the company posted $2.21 EPS. The business’s quarterly 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. Sell-side analysts anticipate that EastGroup Properties will post 9.6 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.55. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.6%. EastGroup Properties’s dividend payout ratio is presently 122.81%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a self-administered and self-managed equity real estate investment trust (REIT) that develops, acquires, owns and operates industrial properties. Its portfolio is primarily composed of distribution and warehouse facilities designed to support customers’ logistics, manufacturing and regional fulfillment needs.

The company focuses on functional, well-located industrial properties in major Sun Belt markets, with an emphasis on infill locations near population centers, transportation networks and business districts.