EastGroup Properties (NYSE:EGP) Announces Earnings Results, Beats Estimates By $1.05 EPS

Key Points

• EastGroup Properties beat earnings expectations with quarterly EPS of $2.36, well above the $1.31 consensus estimate. Revenue came in at $193.33 million, roughly in line with expectations and up 9% year over year.
• The company raised its FY 2026 guidance to an EPS range of 9.520 to 9.660, signaling management’s improved outlook.
• Despite the earnings beat, shares fell 2.4% in trading after the report, even as analysts largely maintained bullish views with a consensus “Moderate Buy” rating and target price near $215.

EastGroup Properties (NYSE:EGP - Get Free Report) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $1.05, Zacks reports. The company had revenue of $193.33 million during the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. EastGroup Properties's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 earnings per share. EastGroup Properties updated its FY 2026 guidance to 9.520-9.660 EPS.

EastGroup Properties Stock Down 2.4%

Shares of EGP traded down $5.21 during mid-day trading on Wednesday, hitting $216.13. 528,015 shares of the company traded hands, compared to its average volume of 374,257. The company has a market capitalization of $11.62 billion, a PE ratio of 39.30, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. 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 business has a 50 day moving average of $205.87 and a 200 day moving average of $195.60. EastGroup Properties has a 1-year low of $159.37 and a 1-year high of $226.71.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.55 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 2.9%. EastGroup Properties's dividend payout ratio is 112.73%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EGP. Cantor Fitzgerald reiterated an "overweight" rating and issued a $217.00 price target on shares of EastGroup Properties in a report on Monday, April 27th. Truist Financial raised their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Piper Sandler lifted their target price on EastGroup Properties from $240.00 to $268.00 and gave the company an "overweight" rating in a research note on Tuesday. Barclays lifted their target price on EastGroup Properties from $210.00 to $228.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Finally, KeyCorp increased their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, EastGroup Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.17.

Insider Buying and Selling

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the sale, the director directly owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of EastGroup Properties by 14.9% during the fourth quarter. Invesco Ltd. now owns 1,024,829 shares of the real estate investment trust's stock valued at $182,563,000 after buying an additional 132,878 shares during the last quarter. Corient Private Wealth LLC raised its stake in EastGroup Properties by 623.9% in the 4th quarter. Corient Private Wealth LLC now owns 174,997 shares of the real estate investment trust's stock worth $31,174,000 after acquiring an additional 150,822 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in EastGroup Properties by 7.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 31,699 shares of the real estate investment trust's stock worth $5,647,000 after acquiring an additional 2,136 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in EastGroup Properties by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 4,320 shares of the real estate investment trust's stock worth $770,000 after acquiring an additional 76 shares during the period. Finally, State of Tennessee Department of Treasury grew its stake in EastGroup Properties by 3.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 135,200 shares of the real estate investment trust's stock valued at $24,558,000 after purchasing an additional 4,430 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

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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