EastGroup Properties (NYSE:EGP) Posts Earnings Results, Beats Expectations By $0.01 EPS

EastGroup Properties (NYSE:EGP - Get Free Report) released its earnings results on Wednesday. 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, Zacks reports. EastGroup Properties had a return on equity of 7.44% and a net margin of 34.85%. The company 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 earnings per share. EastGroup Properties's quarterly revenue was up 11.4% on a year-over-year basis. EastGroup Properties updated its Q3 2025 guidance to 2.220-2.300 EPS and its FY 2025 guidance to 8.890-9.030 EPS.

EastGroup Properties Stock Down 1.0%

Shares of NYSE EGP traded down $1.66 during midday trading on Friday, hitting $164.56. 462,187 shares of the company's stock were exchanged, compared to its average volume of 437,041. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.12 and a quick ratio of 0.12. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $192.21. The company has a market cap of $8.64 billion, a PE ratio of 35.54, a P/E/G ratio of 3.75 and a beta of 1.01. The firm's fifty day simple moving average is $168.78 and its 200-day simple moving average is $169.55.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.40 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $5.60 annualized dividend and a dividend yield of 3.40%. EastGroup Properties's dividend payout ratio is presently 122.54%.

Institutional Investors Weigh In On EastGroup Properties

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Wealth lifted its position in EastGroup Properties by 2.2% during the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock worth $1,075,000 after acquiring an additional 130 shares during the period. Jane Street Group LLC raised its position in EastGroup Properties by 309.8% during the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust's stock worth $2,797,000 after acquiring an additional 12,003 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of EastGroup Properties by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust's stock valued at $33,494,000 after purchasing an additional 41,538 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust's stock valued at $167,000 after purchasing an additional 945 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EGP. Royal Bank Of Canada cut their price target on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Robert W. Baird lowered their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Evercore ISI increased their price target on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Piper Sandler lowered their price objective on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Truist Financial dropped their price target on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.00.

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.