EastGroup Properties (NYSE:EGP) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI has raised the price target for EastGroup Properties (NYSE: EGP) from $176.00 to $180.00, indicating a potential upside of 7.48% from the current stock price.
• The stock currently has a consensus rating of "Moderate Buy", with a majority of analysts giving it a "Buy" or "Hold" rating and an average target price of $188.25.
• EastGroup Properties reported earnings of $2.21 EPS for the latest quarter, surpassing analyst expectations and demonstrating a revenue increase of 11.4% compared to the previous year.

EastGroup Properties (NYSE:EGP - Free Report) had its price objective boosted by Evercore ISI from $176.00 to $180.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. Evercore ISI currently has an in-line rating on the real estate investment trust's stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Morgan Stanley raised their price target on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a report on Tuesday, September 9th. Finally, Royal Bank Of Canada lowered their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average price target of $188.25.

EastGroup Properties Stock Down 0.9%

NYSE EGP traded down $1.55 during trading on Monday, reaching $166.87. 212,118 shares of the company's stock traded hands, compared to its average volume of 425,180. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 3.38 and a beta of 1.01. The company's 50 day simple moving average is $165.43 and its two-hundred day simple moving average is $167.70. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $191.58.

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

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.55 per share. This is a boost 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 yield of 3.7%. EastGroup Properties's dividend payout ratio is presently 133.91%.

Institutional Investors Weigh In On EastGroup Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its stake in EastGroup Properties by 64.7% during the 2nd quarter. Osaic Holdings Inc. now owns 2,633 shares of the real estate investment trust's stock worth $447,000 after purchasing an additional 1,034 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in EastGroup Properties by 94.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,674 shares of the real estate investment trust's stock worth $3,956,000 after purchasing an additional 11,496 shares during the last quarter. State of Wyoming acquired a new stake in EastGroup Properties during the 2nd quarter worth $27,000. CANADA LIFE ASSURANCE Co boosted its stake in EastGroup Properties by 6.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 116,882 shares of the real estate investment trust's stock worth $19,539,000 after purchasing an additional 7,565 shares during the last quarter. Finally, Adelante Capital Management LLC boosted its stake in EastGroup Properties by 14.0% during the 2nd quarter. Adelante Capital Management LLC now owns 191,849 shares of the real estate investment trust's stock worth $32,062,000 after purchasing an additional 23,580 shares during the last quarter. Institutional investors and hedge funds 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.