EastGroup Properties (NYSE:EGP) Downgraded by Wall Street Zen to Sell

EastGroup Properties (NYSE:EGP) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

EGP has been the subject of several other research reports. Mizuho reaffirmed a “neutral” rating and set a $172.00 target price (down previously from $180.00) on shares of EastGroup Properties in a research note on Thursday, December 4th. Robert W. Baird set a $200.00 price target on shares of EastGroup Properties in a report on Thursday. Cantor Fitzgerald lifted their price objective on shares of EastGroup Properties from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Industrial Alliance Securities set a $200.00 target price on shares of EastGroup Properties in a research note on Monday, October 27th. Finally, Truist Financial raised their target price on shares of EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.41.

EastGroup Properties Trading Down 0.0%

EastGroup Properties stock opened at $183.85 on Friday. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $188.89. 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 stock has a market capitalization of $9.81 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 2.69 and a beta of 1.11. The firm has a 50 day simple moving average of $179.88 and a 200-day simple moving average of $172.33.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). The firm had revenue of $182.14 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $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. As a group, equities research analysts expect that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Insider Activity

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 20,630 shares in the company, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On EastGroup Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HB Wealth Management LLC grew its holdings in shares of EastGroup Properties by 38.0% during the 2nd quarter. HB Wealth Management LLC now owns 2,338 shares of the real estate investment trust’s stock valued at $391,000 after acquiring an additional 644 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in EastGroup Properties by 34.1% during the second quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock valued at $2,289,000 after purchasing an additional 3,480 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in EastGroup Properties by 3.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,574 shares of the real estate investment trust’s stock valued at $2,268,000 after purchasing an additional 480 shares in the last quarter. Amalgamated Bank increased its position in EastGroup Properties by 1.3% in the 2nd quarter. Amalgamated Bank now owns 23,972 shares of the real estate investment trust’s stock worth $4,006,000 after purchasing an additional 299 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in EastGroup Properties by 88.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 9,930 shares of the real estate investment trust’s stock worth $1,660,000 after purchasing an additional 4,668 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

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.