EastGroup Properties (NYSE:EGP) Price Target Raised to $180.00 at Evercore ISI

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 - Get Free Report) had its price target upped by investment analysts at Evercore ISI from $176.00 to $180.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price suggests a potential upside of 7.48% from the stock's previous close.

Several other analysts also recently commented on the stock. Royal Bank Of Canada lowered 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. Morgan Stanley increased their target price 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, Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $188.25.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $167.48 on Monday. The firm has a 50 day moving average of $165.45 and a 200-day moving average of $167.95. The stock has a market capitalization of $8.93 billion, a PE ratio of 36.11, a PEG ratio of 3.40 and a beta of 1.01. The company has a current ratio of 0.16, a quick 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.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business had revenue of $177.29 million during the quarter, compared to analysts' expectations of $175.80 million. During the same period in the prior year, the company earned $2.05 EPS. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. 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, equities research analysts predict that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Institutional Investors Weigh In On EastGroup Properties

Hedge funds have recently made changes to their positions in the business. Citizens National Bank Trust Department bought a new stake in shares of EastGroup Properties in the 1st quarter worth approximately $26,000. Assetmark Inc. grew its position in shares of EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after buying an additional 145 shares during the period. State of Wyoming purchased a new stake in shares of EastGroup Properties in the 2nd quarter worth about $27,000. Mather Group LLC. grew its position in EastGroup Properties by 74.2% during the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 155 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in EastGroup Properties by 387.4% during the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 337 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Company Profile

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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