EastGroup Properties, Inc. (NYSE:EGP) Receives $206.40 Consensus Target Price from Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has received an average rating of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and ten have assigned 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 $208.0667.

Several equities analysts recently weighed in on EGP shares. Morgan Stanley lifted 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. Piper Sandler boosted their price objective on EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Evercore set a $195.00 price objective on EastGroup Properties in a research report on Friday, April 24th. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th.

EastGroup Properties Price Performance

NYSE EGP opened at $197.23 on Thursday. The company has a market capitalization of $10.60 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The business’s fifty day moving average is $197.47 and its 200 day moving average is $189.12. EastGroup Properties has a fifty-two week low of $159.37 and a fifty-two week high of $207.72.

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

EastGroup Properties Dividend Announcement

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

Hedge Funds Weigh In On EastGroup Properties

Several large investors have recently made changes to their positions in EGP. Bank of America Corp DE lifted its position in shares of EastGroup Properties by 3.8% in the first quarter. Bank of America Corp DE now owns 431,278 shares of the real estate investment trust’s stock worth $79,825,000 after buying an additional 15,722 shares in the last quarter. Amundi lifted its position in shares of EastGroup Properties by 3.6% in the first quarter. Amundi now owns 29,393 shares of the real estate investment trust’s stock worth $5,440,000 after buying an additional 1,030 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EastGroup Properties by 3.9% in the first quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust’s stock worth $373,000 after buying an additional 75 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of EastGroup Properties by 22.7% in the first quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock worth $11,493,000 after buying an additional 11,504 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of EastGroup Properties by 2.8% in the first quarter. The Manufacturers Life Insurance Company now owns 272,324 shares of the real estate investment trust’s stock worth $50,404,000 after buying an additional 7,301 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other 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.