EastGroup Properties (NYSE:EGP) Cut to “Neutral” at Mizuho

Mizuho cut shares of EastGroup Properties (NYSE:EGP) from an outperform rating to a neutral rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $172.00 price target on the real estate investment trust’s stock, down from their prior price target of $180.00.

EGP has been the subject of a number of other reports. Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a report on Thursday. Robert W. Baird upped their target price on shares of EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald lifted their price target on shares of EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Wells Fargo & Company increased their price objective on shares of EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, KeyCorp upgraded shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 target price for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.89.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $179.81 on Thursday. The firm has a 50 day simple moving average of $176.35 and a 200-day simple moving average of $170.34. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 37.77, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01. EastGroup Properties has a 1-year low of $137.67 and a 1-year high of $188.89.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data 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). The business had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.13 earnings per share. 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. On average, analysts expect that EastGroup Properties will post 8.94 EPS for the current year.

Insider Transactions at EastGroup Properties

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

Institutional Trading of EastGroup Properties

Several hedge funds have recently modified their holdings of the stock. Swiss Life Asset Management Ltd grew its stake in EastGroup Properties by 73.6% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 2,409 shares of the real estate investment trust’s stock worth $408,000 after purchasing an additional 1,021 shares in the last quarter. Cambria Investment Management L.P. raised its position in EastGroup Properties by 15.5% in the 3rd quarter. Cambria Investment Management L.P. now owns 3,494 shares of the real estate investment trust’s stock valued at $591,000 after purchasing an additional 470 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in EastGroup Properties in the 3rd quarter valued at about $2,369,000. Captrust Financial Advisors boosted its stake in shares of EastGroup Properties by 1.5% in the 3rd quarter. Captrust Financial Advisors now owns 10,596 shares of the real estate investment trust’s stock valued at $1,793,000 after buying an additional 158 shares during the period. Finally, Danske Bank A S acquired a new position in shares of EastGroup Properties during the third quarter worth about $85,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Company Profile

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.