EastGroup Properties (NYSE:EGP) Rating Lowered to “Neutral” at Mizuho

EastGroup Properties (NYSE:EGP) was downgraded by stock analysts at Mizuho from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $172.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $180.00. Mizuho’s price target suggests a potential downside of 4.34% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. UBS Group set a $200.00 price objective on EastGroup Properties in a research report on Thursday. KeyCorp upgraded shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 price target for the company in a report on Thursday. Evercore ISI reduced their price objective on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. BNP Paribas upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of EastGroup Properties in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.89.

EastGroup Properties Stock Down 0.4%

EGP stock opened at $179.81 on Thursday. The business has a 50-day simple moving average of $176.35 and a 200 day simple moving average of $170.35. The company has a market cap of $9.59 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 2.72 and a beta of 1.11. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties has a 52 week low of $137.67 and a 52 week high of $188.89.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The company had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. During the same quarter in the previous year, the business posted $2.13 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. Sell-side analysts anticipate that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Insider Activity

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president owned 20,630 shares in the company, valued at $3,610,250. The trade was a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On EastGroup Properties

Hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its position in shares of EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. State of Wyoming bought a new stake in EastGroup Properties in the 2nd quarter valued at about $27,000. MAI Capital Management raised its stake in EastGroup Properties by 83.7% during the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 82 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in EastGroup Properties in the third quarter worth approximately $34,000. Finally, Mather Group LLC. bought a new position in EastGroup Properties in the third quarter worth approximately $35,000. 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.