EastGroup Properties (NYSE:EGP) Releases Earnings Results, Beats Estimates By $0.01 EPS

EastGroup Properties (NYSE:EGP - Get Free Report) issued its earnings results on Wednesday. The real estate investment trust reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.01, Zacks reports. The firm had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%. The company's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. 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 Price Performance

Shares of EGP stock traded down $1.66 on Friday, reaching $164.56. The company's stock had a trading volume of 462,187 shares, compared to its average volume of 433,884. The company has a quick ratio of 0.12, a current ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $192.21. The company has a market capitalization of $8.78 billion, a P/E ratio of 35.54, a PEG ratio of 3.62 and a beta of 1.01. The stock's 50 day simple moving average is $168.78 and its 200-day simple moving average is $169.62.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, June 30th. EastGroup Properties's payout ratio is currently 120.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EGP. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. Royal Bank Of Canada reduced their price target on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Truist Financial cut their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Barclays cut their target price on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Piper Sandler cut their target price on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average price target of $190.00.

Institutional Investors Weigh In On EastGroup Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its position in EastGroup Properties by 18,900.0% during 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 in the last quarter. Goldman Sachs Group Inc. raised its position in EastGroup Properties by 28.0% during 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. 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 valued at $2,797,000 after purchasing an additional 12,003 shares in the last quarter. Finally, Focus Partners Wealth raised its position in EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust's stock valued at $1,075,000 after purchasing an additional 130 shares in 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, 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.