EastGroup Properties (NYSE:EGP) Shares Gap Up – Should You Buy?

Shares of EastGroup Properties, Inc. (NYSE:EGP) gapped up before the market opened on Friday . The stock had previously closed at $213.11, but opened at $221.43. EastGroup Properties shares last traded at $225.8650, with a volume of 15,870 shares traded.

Analyst Ratings Changes

A number of research firms have commented on EGP. Barclays increased their price target on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. Royal Bank Of Canada upped their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a report on Tuesday, April 28th. Morgan Stanley increased their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Finally, KeyCorp lifted their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and an average price target of $213.06.

EastGroup Properties Price Performance

The company has a market cap of $11.95 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 3.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a 50 day moving average of $205.17 and a 200-day moving average of $194.91.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The company had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities analysts predict that EastGroup Properties, Inc. will post 9.59 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.8%. EastGroup Properties’s payout ratio is 112.73%.

Insider Buying and Selling

In related news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director owned 3,531 shares in the company, valued at $691,263.87. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of EastGroup Properties

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Group LLC boosted its stake in shares of EastGroup Properties by 3.9% during the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock worth $256,000 after acquiring an additional 54 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of EastGroup Properties by 4.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock valued at $281,000 after purchasing an additional 60 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in EastGroup Properties by 2.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 62 shares during the period. Cetera Investment Advisers raised its holdings in EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 68 shares during the period. Finally, Larson Financial Group LLC raised its holdings in EastGroup Properties by 35.6% in the 4th quarter. Larson Financial Group LLC now owns 263 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 69 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

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.