EastGroup Properties (NYSE:EGP) Given New $231.00 Price Target at JPMorgan Chase & Co.

EastGroup Properties (NYSE:EGP) had its price objective raised by JPMorgan Chase & Co. from $210.00 to $231.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

EGP has been the topic of a number of other reports. Evercore set a $206.00 target price on shares of EastGroup Properties in a research report on Thursday. Robert W. Baird upped their price target on EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Citigroup raised their price objective on EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Barclays upped their price target on shares of EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company increased their price objective on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $218.16.

EastGroup Properties Stock Down 0.7%

Shares of EGP stock opened at $212.66 on Friday. The stock has a 50 day moving average of $206.60 and a 200-day moving average of $196.22. The firm has a market cap of $11.43 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 3.21 and a beta of 1.03. The company has a quick ratio of 0.19, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. EastGroup Properties has a 12 month low of $159.37 and a 12 month high of $226.71.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The business had revenue of $193.33 million for the quarter, compared to analysts’ expectations of $193.61 million. During the same quarter in the previous year, the firm posted $2.21 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, equities analysts predict that EastGroup Properties will post 9.59 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 2.9%. EastGroup Properties’s dividend payout ratio is presently 108.77%.

Insiders Place Their Bets

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the sale, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd boosted its position in shares of EastGroup Properties by 47.4% in the second quarter. Ausbil Investment Management Ltd now owns 11,889 shares of the real estate investment trust’s stock valued at $2,443,000 after acquiring an additional 3,823 shares during the period. Fulton Bank N.A. boosted its holdings in EastGroup Properties by 10.6% in the 2nd quarter. Fulton Bank N.A. now owns 1,533 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 147 shares during the period. Elevation Wealth Partners LLC grew its position in shares of EastGroup Properties by 94.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 458 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 223 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of EastGroup Properties by 22.0% during the second quarter. GAMMA Investing LLC now owns 1,144 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 206 shares during the period. Finally, Somerset Trust Co acquired a new stake in shares of EastGroup Properties in the second quarter valued at approximately $214,000. Institutional investors own 92.14% of the company’s stock.

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.