EastGroup Properties (NYSE:EGP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Key Points

• Morgan Stanley has raised its target price for EastGroup Properties from $170.00 to $178.00, suggesting a potential upside of 6.93% based on the stock's previous close.
• Wells Fargo has set a price objective of $215.00 with an "overweight" rating, while the consensus target price among analysts stands at $188.25.
• EastGroup Properties reported a quarterly earnings of $2.21 per share, exceeding expectations, with revenue growth of 11.4% compared to the same quarter last year.

EastGroup Properties (NYSE:EGP - Get Free Report) had its target price upped by Morgan Stanley from $170.00 to $178.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price target indicates a potential upside of 6.93% from the stock's previous close.

Several other research firms have also weighed in on EGP. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Royal Bank Of Canada dropped their price objective on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.25.

EastGroup Properties Trading Down 1.0%

Shares of NYSE EGP opened at $166.46 on Tuesday. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 3.42 and a beta of 1.01. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $192.21. The company's fifty day moving average is $165.74 and its 200-day moving average is $168.36. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43.

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 for the quarter, topping the consensus estimate of $2.20 by $0.01. The company had revenue of $177.29 million for the quarter, compared to analyst estimates of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. EastGroup Properties's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Equities research analysts predict that EastGroup Properties will post 8.94 EPS for the current year.

Institutional Investors Weigh In On EastGroup Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its stake in EastGroup Properties by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust's stock worth $12,232,000 after purchasing an additional 1,964 shares during the last quarter. Bank of America Corp DE grew its position in shares of EastGroup Properties by 8.6% during the 4th quarter. Bank of America Corp DE now owns 442,067 shares of the real estate investment trust's stock worth $70,947,000 after buying an additional 34,900 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of EastGroup Properties by 1.4% during the fourth quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust's stock valued at $1,347,000 after buying an additional 112 shares during the period. Cetera Investment Advisers raised its holdings in shares of EastGroup Properties by 4.0% in the fourth quarter. Cetera Investment Advisers now owns 3,082 shares of the real estate investment trust's stock valued at $495,000 after acquiring an additional 119 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of EastGroup Properties by 13.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,635 shares of the real estate investment trust's stock worth $583,000 after purchasing an additional 422 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.