Morgan Stanley Issues Positive Forecast for EastGroup Properties (NYSE:EGP) Stock Price

EastGroup Properties (NYSE:EGP) had its target price raised by Morgan Stanley from $170.00 to $178.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

EGP has been the topic of a number of other research reports. Royal Bank Of Canada lowered their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 29th. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an “overweight” rating in a report on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $188.25.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $164.84 on Tuesday. The firm’s 50-day moving average price is $165.68 and its 200-day moving average price is $168.33. EastGroup Properties has a 1-year low of $137.67 and a 1-year high of $192.21. The firm has a market capitalization of $8.79 billion, a P/E ratio of 35.60, a P/E/G ratio of 3.40 and a beta of 1.01. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. During the same quarter in the prior year, the business posted $2.05 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Equities research analysts anticipate that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s payout ratio is currently 120.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. grew its position in shares of EastGroup Properties by 64.7% during the 2nd quarter. Osaic Holdings Inc. now owns 2,633 shares of the real estate investment trust’s stock valued at $447,000 after acquiring an additional 1,034 shares during the period. Thrivent Financial for Lutherans grew its position in shares of EastGroup Properties by 94.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,674 shares of the real estate investment trust’s stock valued at $3,956,000 after acquiring an additional 11,496 shares during the period. State of Wyoming bought a new position in shares of EastGroup Properties during the 2nd quarter valued at approximately $27,000. CANADA LIFE ASSURANCE Co grew its position in shares of EastGroup Properties by 6.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 116,882 shares of the real estate investment trust’s stock valued at $19,539,000 after acquiring an additional 7,565 shares during the period. Finally, Adelante Capital Management LLC grew its position in shares of EastGroup Properties by 14.0% during the 2nd quarter. Adelante Capital Management LLC now owns 191,849 shares of the real estate investment trust’s stock valued at $32,062,000 after acquiring an additional 23,580 shares during the period. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.