EastGroup Properties (NYSE:EGP) Announces Earnings Results

EastGroup Properties (NYSE:EGP) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $2.36 EPS for the quarter, beating the consensus estimate of $1.31 by $1.05, Zacks reports. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The business had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. During the same period in the previous year, the business posted $2.21 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. EastGroup Properties updated its FY 2026 guidance to 9.520-9.660 EPS.

EastGroup Properties Price Performance

NYSE EGP traded down $5.21 during mid-day trading on Wednesday, hitting $216.13. The stock had a trading volume of 528,015 shares, compared to its average volume of 374,257. The firm’s 50 day moving average is $205.87 and its 200 day moving average is $195.60. 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 stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 39.30, a PEG ratio of 3.32 and a beta of 1.03. EastGroup Properties has a twelve month low of $159.37 and a twelve month high of $226.71.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is currently 112.73%.

Insiders Place Their Bets

In related news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the sale, the director owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

Several large investors have recently added to or reduced their stakes in EGP. State of Wyoming purchased a new stake in shares of EastGroup Properties in the 2nd quarter valued at approximately $27,000. Parallel Advisors LLC raised its position in EastGroup Properties by 53.5% in the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 85 shares during the period. Arax Advisory Partners purchased a new stake in EastGroup Properties in the fourth quarter valued at $77,000. Danske Bank A S purchased a new stake in EastGroup Properties in the third quarter valued at $85,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of EastGroup Properties in the 4th quarter valued at $158,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EGP shares. Raymond James Financial started coverage on EastGroup Properties in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 target price on the stock. Truist Financial upped their target price on EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Morgan Stanley increased their target price on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Barclays lifted their price target on shares of EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird boosted their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.17.

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.