EastGroup Properties (NYSE:EGP) Price Target Raised to $230.00

Key Points

• Truist Financial raised EastGroup Properties’ price target from $215 to $230 while maintaining a “buy” rating, implying 9.18% upside from the prior close.
• Analyst sentiment remains positive, with 12 Buy ratings and six Holds; the consensus rating is “Moderate Buy” with an average target price of $219.89.
• EastGroup reported quarterly EPS of $1.40, exceeding estimates of $1.31, while revenue rose 9% year over year to $193.33 million. The stock opened at $210.67 and was down 1.1% in trading.

EastGroup Properties (NYSE:EGP - Get Free Report) had its price target increased by investment analysts at Truist Financial from $215.00 to $230.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price objective suggests a potential upside of 9.18% from the company's previous close.

A number of other research analysts also recently issued reports on the company. KeyCorp boosted their price objective on EastGroup Properties from $210.00 to $220.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Royal Bank Of Canada raised their target price on EastGroup Properties from $195.00 to $208.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 28th. Evercore set a $206.00 target price on EastGroup Properties in a report on Thursday. JPMorgan Chase & Co. boosted their price target on EastGroup Properties from $210.00 to $231.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $235.00 price target on shares of EastGroup Properties in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $219.89.

EastGroup Properties Trading Down 1.1%

EGP opened at $210.67 on Tuesday. EastGroup Properties has a twelve month low of $159.37 and a twelve month high of $226.71. The company has a fifty day moving average of $206.76 and a 200-day moving average of $196.54. The stock has a market cap of $11.33 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The business had revenue of $193.33 million for the quarter, compared to analysts' expectations of $193.61 million. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, sell-side analysts predict that EastGroup Properties will post 9.59 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the transaction, the director directly owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On EastGroup Properties

Several large investors have recently bought and sold shares of the stock. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of EastGroup Properties by 5.1% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust's stock worth $126,677,000 after buying an additional 34,515 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of EastGroup Properties by 22.1% during the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust's stock valued at $5,260,000 after acquiring an additional 5,341 shares during the period. Heartland Advisors Inc. lifted its stake in EastGroup Properties by 13.7% in the fourth quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust's stock valued at $7,607,000 after purchasing an additional 5,160 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of EastGroup Properties by 30.6% during the 4th quarter. AE Wealth Management LLC now owns 198,900 shares of the real estate investment trust's stock valued at $35,432,000 after buying an additional 46,653 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of EastGroup Properties by 14,736.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 126,558 shares of the real estate investment trust's stock worth $22,545,000 after purchasing an additional 125,705 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

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.

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