Weiss Ratings Reiterates "Hold (C)" Rating for EastGroup Properties (NYSE:EGP)

Key Points

• Weiss Ratings has reiterated its "Hold (C)" rating for EastGroup Properties (NYSE: EGP) in a recent research note, signaling a cautious stance on the company's stock.
• The average rating among analysts for EastGroup Properties is a "Moderate Buy" with a consensus target price of $188.31, despite varying target prices from different firms.
• In the most recent quarterly earnings report, EastGroup Properties exceeded analysts' expectations with earnings of $2.21 per share and a revenue increase of 11.4% year-over-year.

EastGroup Properties (NYSE:EGP - Get Free Report)'s stock had its "hold (c)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also issued reports on EGP. Wells Fargo & Company set a $215.00 target price 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 shares of EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 29th. Morgan Stanley increased their price objective on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. Cantor Fitzgerald began coverage on EastGroup Properties in a research note on Wednesday, October 1st. They set an "overweight" rating and a $190.00 price objective on the stock. Finally, Evercore ISI lowered their price target on EastGroup Properties from $180.00 to $179.00 and set an "in-line" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $188.31.

EastGroup Properties Stock Performance

Shares of EGP stock traded up $0.53 during trading hours on Wednesday, hitting $172.55. The company's stock had a trading volume of 262,295 shares, compared to its average volume of 351,482. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $166.45 and a 200 day moving average of $166.58. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $188.89. The stock has a market cap of $9.20 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 3.50 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. The company had revenue of $177.29 million during the quarter, compared to analysts' expectations of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $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. On average, sell-side analysts forecast that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of EastGroup Properties by 24.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,684 shares of the real estate investment trust's stock worth $270,000 after acquiring an additional 334 shares during the period. UMB Bank n.a. boosted its position in EastGroup Properties by 28.7% during the 1st quarter. UMB Bank n.a. now owns 1,951 shares of the real estate investment trust's stock valued at $344,000 after acquiring an additional 435 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of EastGroup Properties by 2.6% in the 1st quarter. Yousif Capital Management LLC now owns 19,440 shares of the real estate investment trust's stock worth $3,424,000 after purchasing an additional 489 shares in the last quarter. GAMMA Investing LLC raised its stake in EastGroup Properties by 36.3% during the 1st quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust's stock valued at $98,000 after buying an additional 148 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of EastGroup Properties by 9.3% in the 1st quarter. Handelsbanken Fonder AB now owns 190,158 shares of the real estate investment trust's stock worth $33,496,000 after purchasing an additional 16,200 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

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.