EastGroup Properties, Inc. (NYSE:EGP) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• EastGroup Properties, Inc. (NYSE:EGP) has received a consensus rating of “Moderate Buy” from fourteen research firms, with an average price target of $189.31.
• The company reported quarterly earnings of $2.21 EPS, surpassing analyst expectations, with a 11.4% increase in revenue compared to the previous year.
• EastGroup Properties announced a quarterly dividend increase to $1.55 per share, representing a 3.7% yield and a payout ratio of 120.95%.

Shares of EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $189.3077.

Several research analysts have recently issued reports on EGP shares. Raymond James Financial reiterated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Robert W. Baird decreased their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Truist Financial lowered their price target on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada cut their price objective on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a report on Tuesday, July 29th. Finally, Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $168.2270 on Tuesday. The firm's 50 day moving average is $166.23 and its two-hundred day moving average is $169.16. The firm has a market capitalization of $8.97 billion, a P/E ratio of 36.33, a PEG ratio of 3.45 and a beta of 0.98. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties has a 52 week low of $137.67 and a 52 week high of $192.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The business had revenue of $177.29 million during the quarter, compared to analyst estimates of $175.80 million. During the same period in the prior year, the company posted $2.05 EPS. The business's revenue for the quarter 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. Analysts anticipate that EastGroup Properties will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Citizens National Bank Trust Department acquired a new stake in shares of EastGroup Properties during the 1st quarter valued at $26,000. State of Wyoming acquired a new stake in shares of EastGroup Properties during the second quarter worth $27,000. Assetmark Inc. lifted its holdings in shares of EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 145 shares during the last quarter. Mather Group LLC. boosted its position in shares of EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 155 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of EastGroup Properties by 387.4% in the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 337 shares during the period. Institutional investors and hedge funds 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.

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