EastGroup Properties (NYSE:EGP) Upgraded by Raymond James Financial to “Moderate Buy” Rating

Raymond James Financial upgraded shares of EastGroup Properties (NYSE:EGP) to a moderate buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. KeyCorp increased their price objective on shares of EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Royal Bank Of Canada upped their target price on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 28th. Robert W. Baird boosted their price objective on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.12.

EastGroup Properties Stock Performance

NYSE:EGP opened at $200.08 on Wednesday. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.97 and a beta of 1.04. EastGroup Properties has a 1 year low of $159.37 and a 1 year high of $207.72. The stock’s 50 day simple moving average is $200.83 and its two-hundred day simple moving average is $190.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. During the same period in the prior year, the company earned $2.15 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, equities analysts anticipate that EastGroup Properties will post 9.57 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 annualized dividend and a yield of 3.1%. EastGroup Properties’s dividend payout ratio (DPR) is presently 112.73%.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EastGroup Properties

A number of institutional investors and hedge funds have recently modified their holdings of EGP. State of Wyoming bought a new position in EastGroup Properties in the 2nd quarter valued at $27,000. MAI Capital Management lifted its position in shares of EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Glen Eagle Advisors LLC boosted its stake in shares of EastGroup Properties by 96.3% during the first 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 period. Parallel Advisors LLC boosted its stake in shares of EastGroup Properties by 53.5% during 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. Finally, Clearstead Advisors LLC grew its holdings in shares of EastGroup Properties by 114.9% in 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 during the last quarter. 92.14% of the stock is owned by institutional investors.

About EastGroup Properties

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.