EastGroup Properties, Inc. (NYSE:EGP) Receives $190.93 Average Price Target from Analysts

EastGroup Properties, Inc. (NYSE:EGP) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $190.8889.

Several brokerages have recently issued reports on EGP. Royal Bank Of Canada set a $183.00 target price on EastGroup Properties and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. Evercore ISI reduced their price target on 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. KeyCorp raised EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a research report on Thursday. Robert W. Baird boosted their target price on shares of EastGroup Properties from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley upped their target price on shares of EastGroup Properties from $178.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd.

EastGroup Properties Stock Performance

NYSE:EGP opened at $179.81 on Thursday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The firm’s fifty day simple moving average is $176.35 and its 200 day simple moving average is $170.34. The stock has a market cap of $9.59 billion, a P/E ratio of 37.77, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $188.89.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The company had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. During the same period in the prior 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. As a group, research analysts predict that EastGroup Properties will post 8.94 EPS for the current year.

Insider Buying and Selling at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the executive vice president directly owned 20,630 shares of the company’s stock, valued at $3,610,250. The trade was a 8.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of EastGroup Properties by 1,035.7% in the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 145 shares during the period. True Wealth Design LLC increased its position in EastGroup Properties by 159.7% in the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 99 shares during the period. State of Wyoming bought a new stake in EastGroup Properties during the 2nd quarter valued at $27,000. MAI Capital Management boosted its position 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 acquiring an additional 82 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of EastGroup Properties in the third quarter worth $34,000. Hedge funds and other 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.