EastGroup Properties, Inc. (NYSE:EGP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of EastGroup Properties, Inc. (NYSE:EGP) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $193.8889.

Several equities analysts have recently weighed in on EGP shares. Barclays raised EastGroup Properties from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 4th. Piper Sandler set a $220.00 price objective on EastGroup Properties in a report on Friday, December 12th. Wells Fargo & Company increased their target price on EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Royal Bank Of Canada set a $183.00 price target on EastGroup Properties and gave the company a “sector perform” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings raised shares of EastGroup Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 22nd.

EastGroup Properties Price Performance

EGP opened at $181.05 on Monday. The company’s 50-day simple moving average is $179.28 and its two-hundred day simple moving average is $171.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. The stock has a market capitalization of $9.66 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.82 and a beta of 1.11. EastGroup Properties has a 52-week low of $137.67 and a 52-week high of $188.89.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01). The company had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 earnings per share. 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, analysts predict that EastGroup Properties will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, December 31st. EastGroup Properties’s dividend payout ratio is currently 130.25%.

Insiders Place Their Bets

In other news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties 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. This trade represents a 8.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On EastGroup Properties

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in EastGroup Properties in the second quarter worth about $252,405,000. Principal Financial Group Inc. increased its holdings in EastGroup Properties by 43.5% in 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 acquiring an additional 602,253 shares in the last quarter. Invesco Ltd. raised its stake in EastGroup Properties by 89.5% during 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 during the period. Millennium Management LLC raised its stake in EastGroup Properties by 176.4% during the 1st quarter. Millennium Management LLC now owns 493,144 shares of the real estate investment trust’s stock worth $86,867,000 after acquiring an additional 314,738 shares during the period. Finally, Centersquare Investment Management LLC lifted its holdings in EastGroup Properties by 619.9% during the third quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust’s stock valued at $50,324,000 after purchasing an additional 256,019 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.