Research Analysts Issue Forecasts for EGP FY2025 Earnings

EastGroup Properties, Inc. (NYSE:EGP) – Research analysts at KeyCorp issued their FY2025 EPS estimates for shares of EastGroup Properties in a report issued on Thursday, December 4th. KeyCorp analyst T. Thomas forecasts that the real estate investment trust will earn $8.97 per share for the year. KeyCorp has a “Overweight” rating and a $200.00 price target on the stock. The consensus estimate for EastGroup Properties’ current full-year earnings is $8.94 per share.

EastGroup Properties (NYSE:EGP) last announced 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 business had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. During the same period last year, the firm earned $2.13 earnings per share. The company’s quarterly revenue 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.

EGP has been the topic of several other reports. Industrial Alliance Securities set a $200.00 price objective on EastGroup Properties in a research report on Monday, October 27th. Cantor Fitzgerald raised their target price on EastGroup Properties from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Truist Financial boosted their price target on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Robert W. Baird upped their price target on EastGroup Properties from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, Wells Fargo & Company lifted their price objective on shares of EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.89.

EastGroup Properties Stock Performance

NYSE:EGP opened at $179.81 on Monday. The firm’s fifty day simple moving average is $176.35 and its 200 day simple moving average is $170.37. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $188.89. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 2.71 and a beta of 1.11.

Institutional Trading of EastGroup Properties

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of EastGroup Properties during the second quarter worth about $252,405,000. Nuveen LLC acquired a new stake in EastGroup Properties during the first quarter valued at approximately $190,456,000. Principal Financial Group Inc. lifted its holdings in EastGroup Properties by 43.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after buying an additional 602,253 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in EastGroup Properties by 1,058.6% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust’s stock worth $109,443,000 after buying an additional 567,678 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of EastGroup Properties by 89.5% in the 2nd quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust’s stock worth $155,015,000 after acquiring an additional 438,117 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the company’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 transaction, the executive vice president directly owned 20,630 shares of the company’s stock, valued at $3,610,250. This represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

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.