Morgan Stanley Issues Positive Forecast for EastGroup Properties (NYSE:EGP) Stock Price

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 - Free Report) had its price objective increased by Morgan Stanley from $170.00 to $178.00 in a research report report published on Tuesday morning, Marketbeat.com reports. The firm currently has an equal weight rating on the real estate investment trust's stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company set a $215.00 price objective on shares of EastGroup Properties and gave the company an "overweight" rating in a research note on Sunday, July 13th. Royal Bank Of Canada reduced their price objective on shares of 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 equities 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 company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $188.25.

EastGroup Properties Stock Down 0.4%

Shares of EGP stock traded down $0.73 on Tuesday, hitting $166.94. The stock had a trading volume of 393,453 shares, compared to its average volume of 362,123. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 3.42 and a beta of 1.01. The stock's 50 day moving average is $165.45 and its 200-day moving average is $168.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. EastGroup Properties has a 52-week low of $137.67 and a 52-week high of $192.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.01. The business had revenue of $177.29 million during the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, research analysts expect that EastGroup Properties will post 8.94 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Tuesday, September 30th. EastGroup Properties's dividend payout ratio is currently 133.91%.

Institutional Trading of EastGroup Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Citizens National Bank Trust Department acquired a new stake in shares of EastGroup Properties during the first quarter worth $26,000. State of Wyoming acquired a new stake in shares of EastGroup Properties during the second quarter worth $27,000. Assetmark Inc. raised its holdings in shares of EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 145 shares during the period. Mather Group LLC. raised its holdings in shares of EastGroup Properties by 74.2% during the first quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 155 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of EastGroup Properties by 387.4% during the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 337 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

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.