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

EastGroup Properties, Inc. (NYSE:EGP) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $193.8889.

A number of equities research analysts have issued reports on the stock. Industrial Alliance Securities set a $200.00 price objective on shares of EastGroup Properties in a report on Monday, October 27th. BNP Paribas Exane upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research report on Monday, October 27th. Mizuho reiterated a “neutral” rating and issued a $172.00 price target (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. Evercore ISI boosted their price target on shares of EastGroup Properties from $183.00 to $185.00 and gave the stock an “in-line” rating in a research note on Monday, December 22nd. Finally, Robert W. Baird raised their price objective on EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th.

Insider Transactions at EastGroup Properties

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in EastGroup Properties by 0.6% during the third 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 in the last quarter. State Street Corp increased its holdings in shares of EastGroup Properties by 0.6% in the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after buying an additional 15,918 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of EastGroup Properties by 43.5% during the 3rd 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 buying an additional 602,253 shares in the last quarter. Norges Bank bought a new position in shares of EastGroup Properties in the 2nd quarter valued at about $252,405,000. Finally, Boston Partners grew its position in EastGroup Properties by 2.1% in the third quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust’s stock worth $203,834,000 after acquiring an additional 25,055 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 0.2%

EGP opened at $181.05 on Monday. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 38.03, a price-to-earnings-growth ratio of 2.82 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. The firm’s fifty day moving average is $179.28 and its 200 day moving average is $171.66. EastGroup Properties has a fifty-two week low of $137.67 and a fifty-two week high of $188.89.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). The business had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 EPS. 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, sell-side analysts forecast that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.4%. EastGroup Properties’s dividend payout ratio is presently 130.25%.

About EastGroup Properties

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.