EastGroup Properties (NYSE:EGP) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of EastGroup Properties (NYSE:EGP) from a hold rating to a sell rating in a report released on Saturday.

A number of other analysts have also recently commented on EGP. Wells Fargo & Company boosted their price target on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price on the stock. in a research note on Monday, January 5th. Cantor Fitzgerald raised their price target on EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $172.00 price target (down previously from $180.00) on shares of EastGroup Properties in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $194.41.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $183.36 on Friday. EastGroup Properties has a 12 month low of $137.67 and a 12 month high of $188.89. The firm has a market capitalization of $9.78 billion, a P/E ratio of 38.52, a P/E/G ratio of 2.70 and a beta of 1.11. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $180.03 and a two-hundred day simple moving average of $172.46.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The business had revenue of $182.14 million during the quarter, compared to the consensus estimate of $181.88 million. During the same quarter in the previous year, the business earned $2.13 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. 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, equities analysts forecast that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $1.55 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.20 annualized dividend and a dividend yield of 3.4%. EastGroup Properties’s payout ratio is currently 130.25%.

Insider Activity at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the sale, the executive vice president directly owned 20,630 shares of the company’s stock, valued at $3,610,250. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds and other institutional investors have recently bought and sold shares of EGP. SG Americas Securities LLC raised its holdings in shares of EastGroup Properties by 63.4% during the fourth quarter. SG Americas Securities LLC now owns 71,023 shares of the real estate investment trust’s stock valued at $12,652,000 after purchasing an additional 27,557 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in EastGroup Properties by 73.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,561 shares of the real estate investment trust’s stock worth $826,000 after purchasing an additional 1,924 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in EastGroup Properties during the 4th quarter valued at $261,000. Park Avenue Securities LLC lifted its holdings in shares of EastGroup Properties by 8.1% during the 4th quarter. Park Avenue Securities LLC now owns 2,859 shares of the real estate investment trust’s stock valued at $509,000 after buying an additional 215 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of EastGroup Properties by 34.0% during the 4th quarter. GAMMA Investing LLC now owns 722 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 183 shares during the period. 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.