EastGroup Properties, Inc. (NYSE:EGP) Receives $190.93 Consensus Target Price from Brokerages

Shares of EastGroup Properties, Inc. (NYSE:EGP) have earned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $190.8889.

Several research firms have issued reports on EGP. KeyCorp upgraded EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 price objective on the stock in a report on Thursday, December 4th. BNP Paribas raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target for the company in a research report on Monday, October 27th. Robert W. Baird upped their price target on shares of EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Truist Financial increased their price objective on shares of EastGroup Properties from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Mizuho reissued a “neutral” rating and issued a $172.00 target price (down previously from $180.00) on shares of EastGroup Properties in a research report on Thursday, December 4th.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $182.72 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01. The company’s fifty day moving average price is $176.94 and its two-hundred day moving average price is $170.65. The firm has a market capitalization of $9.75 billion, a P/E ratio of 38.39, a P/E/G ratio of 2.70 and a beta of 1.11. EastGroup Properties has a 12 month low of $137.67 and a 12 month high of $188.89.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The business had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same quarter in the prior year, the business earned $2.13 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. On average, research analysts anticipate that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the sale, the executive vice president directly owned 20,630 shares of the company’s stock, valued at $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. HB Wealth Management LLC boosted its position in EastGroup Properties by 38.0% during the 2nd quarter. HB Wealth Management LLC now owns 2,338 shares of the real estate investment trust’s stock worth $391,000 after acquiring an additional 644 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of EastGroup Properties by 1,058.6% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock valued at $109,443,000 after purchasing an additional 567,678 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in EastGroup Properties by 34.1% in the second quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock worth $2,289,000 after purchasing an additional 3,480 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in EastGroup Properties by 3.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,574 shares of the real estate investment trust’s stock worth $2,268,000 after purchasing an additional 480 shares during the period. Finally, Amalgamated Bank grew its position in EastGroup Properties by 1.3% in the 2nd quarter. Amalgamated Bank now owns 23,972 shares of the real estate investment trust’s stock valued at $4,006,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Company Profile

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.