Brokerages Set EastGroup Properties, Inc. (NYSE:EGP) PT at $213.06

Shares of EastGroup Properties, Inc. (NYSE:EGP) have received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $213.0556.

Several research analysts have recently weighed in on EGP shares. BTIG Research upped their target price on EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Raymond James Financial initiated coverage on shares of EastGroup Properties in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target on the stock. Truist Financial boosted their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Evercore set a $195.00 price target on shares of EastGroup Properties in a report on Friday, April 24th. Finally, Weiss Ratings upgraded shares of EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th.

EastGroup Properties Price Performance

Shares of EastGroup Properties stock opened at $222.25 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties has a twelve month low of $159.37 and a twelve month high of $226.71. The business has a 50-day moving average price of $205.17 and a 200 day moving average price of $195.01. The firm has a market cap of $11.95 billion, a PE ratio of 40.41, a P/E/G ratio of 3.33 and a beta of 1.03.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share 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%.EastGroup Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Sell-side analysts predict that EastGroup Properties will post 9.59 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid 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 currently 112.73%.

Insider Buying and Selling at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director owned 3,531 shares in the company, valued at $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EastGroup Properties

Institutional investors have recently bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of EastGroup Properties by 5.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock valued at $126,677,000 after acquiring an additional 34,515 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of EastGroup Properties by 22.1% during the fourth quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock worth $5,260,000 after purchasing an additional 5,341 shares in the last quarter. Heartland Advisors Inc. increased its position in shares of EastGroup Properties by 13.7% during the fourth quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust’s stock worth $7,607,000 after purchasing an additional 5,160 shares in the last quarter. AE Wealth Management LLC raised its stake in EastGroup Properties by 30.6% in the 4th quarter. AE Wealth Management LLC now owns 198,900 shares of the real estate investment trust’s stock valued at $35,432,000 after purchasing an additional 46,653 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in EastGroup Properties in the 4th quarter valued at $879,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

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.