Analysts Set EastGroup Properties, Inc. (NYSE:EGP) PT at $188.25

Key Points

• EastGroup Properties, Inc. (NYSE:EGP) has received a consensus recommendation of "Moderate Buy" from analysts, with an average target price of $188.25.
• The company recently increased its quarterly dividend from $1.40 to $1.55 per share, reflecting a 3.7% dividend yield.
• EastGroup's last reported earnings showed a net margin of 34.85% and a revenue increase of 11.4% year-over-year, outperforming analysts' estimates.

EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $188.25.

A number of equities research analysts have recently weighed in on EGP shares. Royal Bank Of Canada lowered their price objective on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. Evercore ISI increased their price objective on shares of EastGroup Properties from $176.00 to $180.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Morgan Stanley lifted their target price on EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. Finally, Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th.

EastGroup Properties Price Performance

EGP stock traded down $0.70 during midday trading on Friday, reaching $167.92. The company had a trading volume of 80,690 shares, compared to its average volume of 426,420. The stock has a 50 day moving average price of $165.41 and a 200-day moving average price of $167.19. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. EastGroup Properties has a 1-year low of $137.67 and a 1-year high of $191.58.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The company had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The firm's revenue was up 11.4% compared to the same quarter last year. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Equities research analysts expect that EastGroup Properties will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.7%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, September 30th. EastGroup Properties's dividend payout ratio is presently 120.95%.

Hedge Funds Weigh In On EastGroup Properties

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System grew its position in shares of EastGroup Properties by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust's stock valued at $9,447,000 after acquiring an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of EastGroup Properties by 211.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust's stock valued at $748,000 after acquiring an additional 2,877 shares in the last quarter. Bessemer Group Inc. grew its position in EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 108 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in EastGroup Properties during the first quarter valued at $216,000. Finally, Envestnet Asset Management Inc. boosted its stake in EastGroup Properties by 5.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 159,641 shares of the real estate investment trust's stock worth $28,121,000 after purchasing an additional 8,701 shares during the period. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Company Profile

EastGroup Properties, Inc NYSE: EGP, a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.