EastGroup Properties (NYSE:EGP) Reaches New 1-Year High on Earnings Beat

EastGroup Properties, Inc. (NYSE:EGP)’s share price reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $190.50 and last traded at $189.51, with a volume of 191827 shares traded. The stock had previously closed at $183.13.

The real estate investment trust reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.01. The company had revenue of $187.47 million for the quarter, compared to analyst estimates of $185.44 million. EastGroup Properties had a return on equity of 7.43% and a net margin of 35.68%.The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.400-9.600 EPS and its Q1 2026 guidance at 2.250-2.330 EPS.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.3%. EastGroup Properties’s dividend payout ratio is currently 127.31%.

Analysts Set New Price Targets

EGP has been the subject of a number of research analyst reports. Evercore ISI set a $188.00 target price on shares of EastGroup Properties in a research note on Friday. Evercore set a $188.00 price objective on shares of EastGroup Properties in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price objective on the stock. in a report on Monday, January 5th. Piper Sandler set a $220.00 target price on EastGroup Properties in a research note on Friday, December 12th. Finally, UBS Group set a $200.00 price target on EastGroup Properties in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.53.

Institutional Investors Weigh In On EastGroup Properties

A number of institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings in EastGroup Properties by 159.7% during the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 99 shares during the last quarter. State of Wyoming acquired a new stake in shares of EastGroup Properties in the 2nd quarter valued at approximately $27,000. MAI Capital Management raised its position in shares of EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 82 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in EastGroup Properties during the 3rd quarter worth approximately $34,000. Finally, Mather Group LLC. acquired a new position in EastGroup Properties during the third quarter valued at approximately $35,000. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

The company’s 50 day simple moving average is $181.97 and its 200 day simple moving average is $174.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01. The stock has a market cap of $10.14 billion, a P/E ratio of 39.04, a P/E/G ratio of 2.75 and a beta of 1.11.

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.