EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $221.6842.

Several analysts have recently commented on EGP shares. Evercore set a $206.00 price target on shares of EastGroup Properties in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their target price on EastGroup Properties from $210.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Royal Bank Of Canada lifted their target price on EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. Robert W. Baird set a $221.00 price target on EastGroup Properties in a research note on Friday, July 31st. Finally, Raymond James Financial initiated coverage on EastGroup Properties in a report on Wednesday, June 17th. They set an “outperform” rating and a $241.00 price target for the company.

Hedge Funds Weigh In On EastGroup Properties

Several large investors have recently made changes to their positions in EGP. State of Wyoming purchased a new position in shares of EastGroup Properties during the 2nd quarter worth approximately $27,000. Glen Eagle Advisors LLC increased its holdings in EastGroup Properties by 96.3% in the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 104 shares during the last quarter. 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. Avalon Trust Co purchased a new stake in EastGroup Properties in the first quarter valued at approximately $46,000. Finally, Clearstead Advisors LLC lifted its stake in EastGroup Properties by 114.9% during the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 139 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $198.77 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $207.02 and a 200 day moving average price of $200.15. EastGroup Properties has a 12-month low of $163.10 and a 12-month high of $226.71. The stock has a market cap of $10.69 billion, a P/E ratio of 34.87, a PEG ratio of 2.89 and a beta of 1.01.

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 the consensus estimate of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. During the same period in the previous year, the business posted $2.21 EPS. EastGroup Properties’s revenue was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Sell-side analysts anticipate that EastGroup Properties will post 9.6 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.75 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.55. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 30th. EastGroup Properties’s dividend payout ratio (DPR) is 108.77%.

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.