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

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $189.3077.

Several brokerages have weighed in on EGP. Robert W. Baird dropped their target price on EastGroup Properties from $194.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Raymond James Financial reissued a “strong-buy” rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an “overweight” rating in a research note on Sunday, July 13th. Truist Financial reduced their price objective on EastGroup Properties from $180.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Royal Bank Of Canada reduced their price objective on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 29th.

Institutional Investors Weigh In On EastGroup Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System increased its holdings in EastGroup Properties by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust’s stock valued at $9,447,000 after purchasing an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of EastGroup Properties by 211.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust’s stock worth $748,000 after purchasing an additional 2,877 shares during the period. Bessemer Group Inc. grew its stake in EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 108 shares during the period. OneDigital Investment Advisors LLC acquired a new position in EastGroup Properties in the first quarter valued at about $216,000. Finally, Envestnet Asset Management Inc. grew its stake in EastGroup Properties by 5.8% in the first quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust’s stock valued at $28,121,000 after acquiring an additional 8,701 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Up 0.9%

Shares of EastGroup Properties stock opened at $169.82 on Tuesday. The stock has a 50-day moving average price of $165.95 and a 200 day moving average price of $168.80. The company has a market cap of $9.06 billion, a P/E ratio of 36.68, a P/E/G ratio of 3.45 and a beta of 1.01. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties has a 1 year low of $137.67 and a 1 year high of $192.21.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.01. The firm had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 EPS. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, analysts expect that EastGroup Properties will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $1.55 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.40. The ex-dividend date is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.7%. EastGroup Properties’s dividend payout ratio is 120.95%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.