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

Shares of EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen research firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $188.3077.

Several equities analysts recently weighed in on the stock. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Cantor Fitzgerald assumed coverage on shares of EastGroup Properties in a report on Wednesday, October 1st. They set an "overweight" rating and a $190.00 target price for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of EastGroup Properties in a report on Wednesday, October 8th. Royal Bank Of Canada cut their target price 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. Finally, Evercore ISI cut their target price on shares of EastGroup Properties from $180.00 to $179.00 and set an "in-line" rating for the company in a report on Monday, October 6th.

Hedge Funds Weigh In On EastGroup Properties

Institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System increased its holdings in shares of EastGroup Properties by 0.9% during 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 purchasing an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in EastGroup Properties by 211.5% in the 1st 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 during the period. Bessemer Group Inc. grew its stake 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 valued at $79,000 after acquiring an additional 108 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in EastGroup Properties in the 1st quarter valued at $216,000. Finally, Envestnet Asset Management Inc. grew 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 valued at $28,121,000 after acquiring an additional 8,701 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $170.19 on Wednesday. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $188.89. The company's 50 day moving average is $166.91 and its 200 day moving average is $166.30. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The company has a market cap of $9.08 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 3.44 and a beta of 1.02.

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

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued 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 of this dividend is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.6%. EastGroup Properties's payout ratio is presently 133.91%.

About EastGroup Properties

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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