Analysts Set EastGroup Properties, Inc. (NYSE:EGP) Price Target at $188.25

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $188.25.

Several research firms recently commented on EGP. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Evercore ISI raised their price objective on shares of EastGroup Properties from $176.00 to $180.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Morgan Stanley raised their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. Finally, Royal Bank Of Canada decreased their price objective on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 29th.

Institutional Trading of EastGroup Properties

Several institutional investors have recently added to or reduced their stakes in EGP. Norges Bank bought a new stake in EastGroup Properties in the second quarter worth about $252,405,000. Nuveen LLC bought a new stake in shares of EastGroup Properties during the first quarter valued at approximately $190,456,000. Principal Financial Group Inc. raised its stake in shares of EastGroup Properties by 234.7% during the first quarter. Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust’s stock valued at $215,267,000 after acquiring an additional 856,971 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of EastGroup Properties by 1,058.6% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock valued at $109,443,000 after acquiring an additional 567,678 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of EastGroup Properties by 89.5% during the second quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust’s stock valued at $155,015,000 after acquiring an additional 438,117 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 1.8%

EGP opened at $168.95 on Friday. The firm has a market cap of $9.01 billion, a P/E ratio of 36.49, a P/E/G ratio of 3.39 and a beta of 1.01. EastGroup Properties has a 12 month low of $137.67 and a 12 month high of $191.58. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $165.41 and a 200 day moving average of $167.19.

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

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 3.7%. EastGroup Properties’s payout ratio is 120.95%.

About EastGroup Properties

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.