Brokerages Set EastGroup Properties, Inc. (NYSE:EGP) PT at $188.31

EastGroup Properties, Inc. (NYSE:EGP) has received an average rating of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $188.3077.

Several analysts recently issued reports on EGP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a research note on Wednesday, October 8th. Cantor Fitzgerald began coverage on shares of EastGroup Properties in a report on Wednesday, October 1st. They issued an “overweight” rating and a $190.00 target price on the stock. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the company an “overweight” rating in a report on Sunday, July 13th. 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 report on Tuesday, September 9th. Finally, Evercore ISI decreased their target price on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a report on Monday, October 6th.

Hedge Funds Weigh In On EastGroup Properties

Large investors have recently made changes to their positions in the stock. Citizens National Bank Trust Department acquired a new position in shares of EastGroup Properties in the 1st quarter worth approximately $26,000. State of Wyoming acquired a new position in shares of EastGroup Properties in the 2nd quarter worth approximately $27,000. Assetmark Inc. lifted its holdings in shares of EastGroup Properties by 1,035.7% in 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 last quarter. Mather Group LLC. lifted its holdings in shares of EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 155 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 108 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Up 2.2%

Shares of NYSE EGP opened at $180.06 on Wednesday. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $188.89. The stock has a market cap of $9.60 billion, a PE ratio of 38.89, a P/E/G ratio of 3.59 and a beta of 1.02. 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 company has a 50-day moving average of $167.82 and a 200 day moving average of $166.39.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $175.80 million. During the same quarter in the prior year, the company earned $2.05 EPS. EastGroup Properties’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. As a group, sell-side analysts predict that EastGroup Properties will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s dividend payout ratio (DPR) is presently 133.91%.

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.