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

Key Points

• EastGroup Properties carries a consensus analyst rating of “Moderate Buy”, with 12 buy ratings and 5 hold ratings across 17 analysts. The average 1-year price target is about $213.06.
• The stock has recently traded near its 52-week high, opening at $223.11 versus a 12-month high of $223.48. It also has a market cap of about $11.99 billion and a beta of 1.03.
• EastGroup beat earnings expectations in its latest quarter, reporting $1.77 EPS versus the $1.27 estimate, while revenue rose 9.1% year over year. The company also paid a quarterly dividend of $1.55, equal to an annualized yield of 2.8%.

Shares of EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seventeen analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $213.0556.

Several analysts have weighed in on EGP shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $217.00 price objective on shares of EastGroup Properties in a research note on Monday, April 27th. Robert W. Baird lifted their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Evercore set a $195.00 target price on EastGroup Properties in a report on Friday, April 24th. Morgan Stanley boosted their target price on EastGroup Properties from $215.00 to $231.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 27th. Finally, Raymond James Financial assumed coverage on EastGroup Properties in a research report on Wednesday, June 17th. They set an "outperform" rating and a $241.00 price target on the stock.

EastGroup Properties Stock Performance

NYSE:EGP opened at $223.11 on Friday. EastGroup Properties has a 12-month low of $159.37 and a 12-month high of $223.48. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $11.99 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. The firm has a 50-day moving average price of $204.83 and a 200 day moving average price of $194.72.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.50. The company had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The company's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Research analysts anticipate that EastGroup Properties will post 9.59 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a yield of 2.8%. EastGroup Properties's payout ratio is currently 112.73%.

Insider Activity at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the stock in a transaction 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 sale, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This 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. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EGP. State of Wyoming bought a new stake in EastGroup Properties during the 2nd quarter worth about $27,000. Glen Eagle Advisors LLC raised its stake in shares of EastGroup Properties by 96.3% in the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 104 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of EastGroup Properties by 53.5% during the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 85 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of EastGroup Properties by 114.9% during the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 139 shares in the last quarter. Finally, Avalon Trust Co bought a new stake in shares of EastGroup Properties during the first quarter valued at approximately $46,000. 92.14% of the stock is owned by institutional investors.

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.

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