EastGroup Properties (NYSE:EGP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

EastGroup Properties (NYSE:EGP) had its target price increased by analysts at Morgan Stanley from $178.00 to $180.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price points to a potential upside of 0.52% from the stock’s previous close.

A number of other equities analysts have also commented on EGP. BNP Paribas Exane raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target on the stock in a research report on Monday, October 27th. Cantor Fitzgerald raised their price objective on EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. BNP Paribas raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a research report on Monday, October 27th. Robert W. Baird increased their price objective on shares of EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Finally, Industrial Alliance Securities set a $200.00 price target on EastGroup Properties in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.93.

EastGroup Properties Trading Down 0.2%

Shares of EastGroup Properties stock opened at $179.07 on Tuesday. The business has a fifty day simple moving average of $175.82 and a two-hundred day simple moving average of $170.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 2.72 and a beta of 1.11. EastGroup Properties has a 1 year low of $137.67 and a 1 year high of $188.89.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. During the same quarter last year, the company posted $2.13 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. Research analysts forecast that EastGroup Properties will post 8.94 EPS for the current year.

Insider Buying and Selling

In related news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the executive vice president owned 20,630 shares in the company, valued at $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EastGroup Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in EastGroup Properties by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,350,473 shares of the real estate investment trust’s stock valued at $1,244,141,000 after purchasing an additional 43,633 shares during the last quarter. State Street Corp increased its stake in shares of EastGroup Properties by 0.6% during the third quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock valued at $458,320,000 after buying an additional 15,918 shares during the period. Principal Financial Group Inc. raised its holdings in shares of EastGroup Properties by 43.5% during the third quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock valued at $336,076,000 after acquiring an additional 602,253 shares in the last quarter. Norges Bank bought a new position in shares of EastGroup Properties during the second quarter valued at approximately $252,405,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in EastGroup Properties by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,318,090 shares of the real estate investment trust’s stock worth $232,184,000 after acquiring an additional 342,620 shares during the period. 92.14% of the stock is owned by institutional investors.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.