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

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $210.1250.

EGP has been the subject of several recent research reports. Royal Bank Of Canada lifted their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 28th. Morgan Stanley lifted their target price on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Truist Financial lifted their target price on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $217.00 target price on shares of EastGroup Properties in a research note on Monday, April 27th. Finally, Wells Fargo & Company lifted their price target on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday, June 1st.

EastGroup Properties Stock Performance

NYSE:EGP opened at $200.08 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The business has a fifty day simple moving average of $200.96 and a two-hundred day simple moving average of $190.95. EastGroup Properties has a 1 year low of $159.37 and a 1 year high of $207.72. The company has a market capitalization of $10.76 billion, a P/E ratio of 36.38, a P/E/G ratio of 3.00 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last posted 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 firm had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, analysts expect that EastGroup Properties will post 9.58 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $1.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. EastGroup Properties’s payout ratio is 112.73%.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the transaction, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 945 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after acquiring an additional 41,538 shares in the last quarter. Jane Street Group LLC grew its stake in EastGroup Properties by 309.8% during the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after acquiring an additional 12,003 shares in the last quarter. Focus Partners Wealth grew its stake in EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after acquiring an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in EastGroup Properties by 1.9% during the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 68 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

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.