JPMorgan Chase & Co. Forecasts Strong Price Appreciation for EastGroup Properties (NYSE:EGP) Stock

EastGroup Properties (NYSE:EGP) had its target price upped by equities researchers at JPMorgan Chase & Co. from $210.00 to $231.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 8.63% from the company’s previous close.

Several other brokerages also recently commented on EGP. Barclays lifted their target price on EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price target on 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 lifted their price objective on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Evercore set a $206.00 price objective on shares of EastGroup Properties in a report on Thursday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of EastGroup Properties in a research report on Tuesday. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.16.

EastGroup Properties Trading Down 0.7%

Shares of NYSE:EGP opened at $212.66 on Friday. EastGroup Properties has a 52-week low of $159.37 and a 52-week high of $226.71. The company has a market capitalization of $11.43 billion, a P/E ratio of 37.31, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. The company has a 50-day simple moving average of $206.60 and a 200 day simple moving average of $196.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.16.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Sell-side analysts forecast that EastGroup Properties will post 9.59 earnings per share for the current year.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following the transaction, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd lifted its holdings in shares of EastGroup Properties by 47.4% during the second quarter. Ausbil Investment Management Ltd now owns 11,889 shares of the real estate investment trust’s stock worth $2,443,000 after buying an additional 3,823 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of EastGroup Properties by 10.6% in the second quarter. Fulton Bank N.A. now owns 1,533 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 147 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of EastGroup Properties by 94.9% in the second quarter. Elevation Wealth Partners LLC now owns 458 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 223 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of EastGroup Properties by 22.0% in the second quarter. GAMMA Investing LLC now owns 1,144 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 206 shares in the last quarter. Finally, Somerset Trust Co bought a new position in EastGroup Properties during the second quarter worth about $214,000. 92.14% of the stock is 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.