EastGroup Properties (NYSE:EGP) Downgraded to “Sell” Rating by Wall Street Zen

EastGroup Properties (NYSE:EGP) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research firms have also recently weighed in on EGP. Truist Financial upped their price target on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. KeyCorp raised shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 target price on the stock in a research report on Thursday, December 4th. Industrial Alliance Securities set a $200.00 target price on shares of EastGroup Properties in a research note on Monday, October 27th. Mizuho reaffirmed a “neutral” rating and set a $172.00 price target (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. Finally, Wells Fargo & Company boosted their price objective on shares of EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target of $194.41.

EastGroup Properties Stock Down 0.0%

Shares of NYSE EGP opened at $183.85 on Friday. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $188.89. The company has a market cap of $9.81 billion, a P/E ratio of 38.62, a P/E/G ratio of 2.69 and a beta of 1.11. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $179.88 and a 200 day moving average price of $172.33.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $181.88 million. During the same quarter in the prior year, the firm earned $2.13 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. 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. Research analysts anticipate that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Insider Activity at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president directly owned 20,630 shares in the company, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

Several institutional investors and hedge funds have recently bought and sold shares of the company. HB Wealth Management LLC grew its holdings in EastGroup Properties by 38.0% in the 2nd quarter. HB Wealth Management LLC now owns 2,338 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 644 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in EastGroup Properties by 34.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock worth $2,289,000 after acquiring an additional 3,480 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of EastGroup Properties by 3.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,574 shares of the real estate investment trust’s stock worth $2,268,000 after purchasing an additional 480 shares in the last quarter. Amalgamated Bank grew its stake in shares of EastGroup Properties by 1.3% in the second quarter. Amalgamated Bank now owns 23,972 shares of the real estate investment trust’s stock worth $4,006,000 after purchasing an additional 299 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of EastGroup Properties by 88.7% during the second quarter. Advisors Asset Management Inc. now owns 9,930 shares of the real estate investment trust’s stock valued at $1,660,000 after purchasing an additional 4,668 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

About EastGroup Properties

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.