EastGroup Properties (NYSE:EGP) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

EastGroup Properties (NYSE:EGP) released its earnings results on Wednesday. The real estate investment trust reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.01, Briefing.com reports. EastGroup Properties had a return on equity of 7.47% and a net margin of 35.68%.The firm had revenue of $187.47 million during the quarter, compared to the consensus estimate of $185.44 million. During the same period in the prior year, the firm posted $2.15 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. EastGroup Properties updated its FY 2026 guidance to 9.400-9.600 EPS and its Q1 2026 guidance to 2.250-2.330 EPS.

EastGroup Properties Stock Up 0.0%

NYSE EGP traded up $0.07 during trading on Friday, reaching $188.55. The company’s stock had a trading volume of 124,190 shares, compared to its average volume of 385,982. 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 stock has a market capitalization of $10.06 billion, a PE ratio of 38.76, a PEG ratio of 2.69 and a beta of 1.11. EastGroup Properties has a 1-year low of $137.67 and a 1-year high of $191.03. The business has a 50-day moving average price of $181.79 and a 200-day moving average price of $174.35.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 127.31%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of EastGroup Properties in a report on Monday, December 29th. Barclays raised shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. KeyCorp upgraded shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 target price on the stock in a report on Thursday, December 4th. BNP Paribas Exane raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a research note on Monday, October 27th. Finally, Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $196.00.

Institutional Investors Weigh In On EastGroup Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. raised its holdings in EastGroup Properties by 296.6% during the third quarter. Alyeska Investment Group L.P. now owns 285,476 shares of the real estate investment trust’s stock valued at $48,320,000 after buying an additional 213,493 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of EastGroup Properties during the 2nd quarter valued at about $13,791,000. Balyasny Asset Management L.P. bought a new position in shares of EastGroup Properties in the 3rd quarter valued at approximately $13,686,000. The Manufacturers Life Insurance Company lifted its holdings in EastGroup Properties by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 400,795 shares of the real estate investment trust’s stock worth $66,981,000 after purchasing an additional 69,160 shares during the last quarter. Finally, State Street Corp boosted its position in EastGroup Properties by 2.5% during the second quarter. State Street Corp now owns 2,667,793 shares of the real estate investment trust’s stock worth $449,491,000 after purchasing an additional 65,060 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

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.