EastGroup Properties (NYSE:EGP) Sets New 12-Month High on Analyst Upgrade

Key Points

• 52-week high reached after Truist raised its price target to $215 (from $205) and maintained a Buy rating, with shares trading as high as $203.78 amid multiple other analyst price-target upgrades and a MarketBeat consensus of "Moderate Buy" (avg. target $205).
• Earnings beat: EastGroup reported Q1 EPS of $1.77 vs. $1.27 expected and revenue up 9.1% year-over-year, and it set FY‑2026 guidance of 9.460–9.660 EPS (analysts project ~9.56 EPS).
• The stock has a market cap of $10.92B and yields $6.20 annually (≈3.1% yield), but carries a high payout ratio (112.73%) and is heavily institutionally owned (≈92.1%).

EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $205.00 to $215.00. Truist Financial currently has a buy rating on the stock. EastGroup Properties traded as high as $203.78 and last traded at $203.5550, with a volume of 103521 shares trading hands. The stock had previously closed at $200.40.

EGP has been the subject of a number of other reports. Robert W. Baird boosted their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Morgan Stanley upped their price objective on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. KeyCorp upped their price objective on shares of EastGroup Properties from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Weiss Ratings raised shares of EastGroup Properties from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Finally, Royal Bank Of Canada upped their price objective on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average price target of $205.00.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Group LLC raised its position in shares of EastGroup Properties by 3.9% in the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust's stock valued at $256,000 after purchasing an additional 54 shares during the last quarter. Canton Hathaway LLC raised its position in shares of EastGroup Properties by 31.6% in the 3rd quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 60 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of EastGroup Properties by 4.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust's stock valued at $281,000 after purchasing an additional 60 shares during the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of EastGroup Properties by 2.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust's stock valued at $432,000 after purchasing an additional 62 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of EastGroup Properties by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust's stock valued at $613,000 after purchasing an additional 68 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 1.4%

The stock has a market capitalization of $10.92 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 2.99 and a beta of 1.05. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The company's 50-day moving average is $192.30 and its 200 day moving average is $185.37.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. The firm had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. EastGroup Properties's revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, analysts anticipate that EastGroup Properties, Inc. will post 9.56 EPS for the current year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, March 31st. EastGroup Properties's dividend payout ratio is 112.73%.

About EastGroup Properties

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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