EastGroup Properties (NYSE:EGP) Price Target Raised to $215.00

Key Points

• Truist raised its price target to $215 and kept a "buy" rating on EastGroup, implying about an 8.5% upside; several other brokers have also lifted targets and the consensus rating is a Moderate Buy with an average target around $205.
• EastGroup beat quarterly EPS expectations ($1.77 vs. $1.27) while revenue of $190.3M slightly missed forecasts, and the company set FY2026 guidance at 9.460–9.660 EPS—roughly in line with analysts' ~9.56 estimate.

EastGroup Properties (NYSE:EGP - Get Free Report) had its price objective hoisted by analysts at Truist Financial from $205.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price objective points to a potential upside of 8.53% from the company's current price.

EGP has been the subject of several other research reports. Royal Bank Of Canada increased their price target on EastGroup Properties from $195.00 to $208.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Evercore set a $195.00 target price on EastGroup Properties in a research note on Friday, April 24th. Finally, Citigroup raised their target price on EastGroup Properties from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties has a consensus rating of "Moderate Buy" and an average target price of $205.00.

EastGroup Properties Trading Down 0.1%

Shares of EGP stock traded down $0.24 on Tuesday, hitting $198.11. The company had a trading volume of 21,641 shares, compared to its average volume of 373,588. The firm has a market cap of $10.65 billion, a P/E ratio of 36.02, a P/E/G ratio of 3.01 and a beta of 1.05. The stock's 50-day moving average is $192.16 and its two-hundred day moving average is $185.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. EastGroup Properties has a twelve month low of $159.37 and a twelve month high of $203.60.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.50. The company had revenue of $190.26 million during the quarter, compared to analysts' expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities research analysts anticipate that EastGroup Properties will post 9.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EastGroup Properties

Several large investors have recently added to or reduced their stakes in EGP. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of EastGroup Properties by 71.4% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,924 shares of the real estate investment trust's stock worth $726,000 after purchasing an additional 1,634 shares during the period. State of Michigan Retirement System lifted its holdings in shares of EastGroup Properties by 1.6% in the first quarter. State of Michigan Retirement System now owns 12,827 shares of the real estate investment trust's stock valued at $2,374,000 after purchasing an additional 200 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of EastGroup Properties by 1.1% in the first quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust's stock valued at $431,028,000 after purchasing an additional 24,910 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of EastGroup Properties by 20.2% in the first quarter. Chicago Partners Investment Group LLC now owns 4,344 shares of the real estate investment trust's stock valued at $873,000 after purchasing an additional 729 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of EastGroup Properties by 21.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,413 shares of the real estate investment trust's stock valued at $6,925,000 after purchasing an additional 6,717 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.