EastGroup Properties (NYSE:EGP) Given New $179.00 Price Target at Evercore ISI

EastGroup Properties (NYSE:EGP) had its target price reduced by Evercore ISI from $180.00 to $179.00 in a report issued on Monday morning,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

EGP has been the subject of a number of other reports. Royal Bank Of Canada dropped their target price on EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a report on Tuesday, July 29th. Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the company an “overweight” rating in a research report on Sunday, July 13th. Cantor Fitzgerald started coverage on EastGroup Properties in a report on Wednesday, October 1st. They set an “overweight” rating and a $190.00 price objective for the company. Morgan Stanley boosted their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus target price of $188.31.

EastGroup Properties Trading Up 0.4%

Shares of EGP stock opened at $171.81 on Monday. The firm has a fifty day moving average of $166.18 and a 200-day moving average of $166.50. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 37.11, a P/E/G ratio of 3.49 and a beta of 1.02. EastGroup Properties has a 52-week low of $137.67 and a 52-week high of $188.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16.

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, beating 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 business had revenue of $177.29 million for the quarter, compared to analysts’ expectations of $175.80 million. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. On average, equities research analysts forecast that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $1.55 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 3.6%. EastGroup Properties’s dividend payout ratio is 133.91%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EGP. Citizens National Bank Trust Department acquired a new stake in shares of EastGroup Properties during the 1st quarter worth approximately $26,000. State of Wyoming bought a new position in EastGroup Properties in the second quarter valued at approximately $27,000. Assetmark Inc. grew its holdings in EastGroup Properties by 1,035.7% during the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 145 shares during the period. Mather Group LLC. raised its position in shares of EastGroup Properties by 74.2% during the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 155 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of EastGroup Properties by 31.9% during the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

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.