EastGroup Properties, Inc. (NYSE:EGP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $206.40.

Several research firms have weighed in on EGP. Piper Sandler upped their target price on EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Robert W. Baird upped their target price on EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Morgan Stanley increased their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup increased their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, KeyCorp increased their price target on shares of EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th.

Institutional Trading of EastGroup Properties

Hedge funds have recently bought and sold shares of the company. Renaissance Group LLC grew its position in shares of EastGroup Properties by 3.9% in the fourth quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 54 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in EastGroup Properties by 4.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 60 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in EastGroup Properties by 2.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 62 shares during the last quarter. Cetera Investment Advisers boosted its stake in EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after buying an additional 68 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in EastGroup Properties by 35.6% in the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.5%

Shares of EGP opened at $205.89 on Thursday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average is $196.23 and its two-hundred day moving average is $188.38. EastGroup Properties has a twelve month low of $159.37 and a twelve month high of $207.72. The firm has a market capitalization of $11.07 billion, a P/E ratio of 37.43, a PEG ratio of 3.11 and a beta of 1.05.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.50. The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, research analysts predict that EastGroup Properties will post 9.56 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 3.0%. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

EastGroup Properties Company Profile

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.