EastGroup Properties (EGP) Stock Forecast, Price & News

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for EastGroup Properties in the last year. There are currently 5 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" EGP shares.
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10 analysts have issued 12-month price targets for EastGroup Properties' shares. Their EGP share price forecasts range from $144.00 to $198.00. On average, they expect the company's stock price to reach $170.20 in the next twelve months. This suggests a possible upside of 1.1% from the stock's current price.
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EastGroup Properties' stock was trading at $148.06 at the beginning of the year. Since then, EGP shares have increased by 13.6% and is now trading at $168.27.
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EastGroup Properties saw a increase in short interest in April. As of April 30th, there was short interest totaling 785,600 shares, an increase of 7.3% from the April 15th total of 732,000 shares. Based on an average trading volume of 230,800 shares, the days-to-cover ratio is presently 3.4 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, July 25th 2023.
View our EGP earnings forecast.

EastGroup Properties, Inc. (NYSE:EGP) released its quarterly earnings results on Tuesday, April, 26th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by $0.81. EastGroup Properties had a trailing twelve-month return on equity of 8.40% and a net margin of 32.86%. During the same period in the previous year, the firm posted $1.45 EPS.

EastGroup Properties declared a quarterly dividend on Thursday, May 25th. Shareholders of record on Friday, June 30th will be given a dividend of $1.25 per share on Friday, July 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Thursday, June 29th.
Read our dividend analysis for EGP.

ETFs with the largest weight of EastGroup Properties (NYSE:EGP) stock in their portfolio include Pacer Industrial Real Estate ETF (INDS), SP Funds S&P Global REIT Sharia ETF (SPRE), ETFB Green SRI REITs ETF (RITA), ALPS REIT Dividend Dogs ETF (RDOG), Invesco Active U.S. Real Estate ETF (PSR), IQ CBRE NextGen Real Estate ETF (ROOF), WisdomTree New Economy Real Estate Fund (WTRE) and Opus Small Cap Value Plus ETF (OSCV).

EastGroup Properties (NYSE:EGP) pays an annual dividend of $5.00 per share and currently has a dividend yield of 2.97%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 129.20%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, EGP will have a dividend payout ratio of 62.11% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for EGP.

EastGroup Properties updated its FY 2023 earnings guidance on Thursday, April, 27th. The company provided earnings per share (EPS) guidance of $7.49-$7.61 for the period, compared to the consensus EPS estimate of $7.44. The company issued revenue guidance of -.

3 employees have rated EastGroup Properties Chief Executive Officer David H. Hoster II on Glassdoor.com. David H. Hoster II has an approval rating of 100% among the company's employees. This puts David H. Hoster II in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other EastGroup Properties investors own include Realty Income (O), Digital Realty Trust (DLR), AbbVie (ABBV), Intel (INTC), Raytheon Technologies (RTX), AT&T (T), Crown Castle (CCI), Walt Disney (DIS), Essex Property Trust (ESS) and Coca-Cola (KO).

EastGroup Properties trades on the New York Stock Exchange (NYSE) under the ticker symbol "EGP."

EastGroup Properties' stock is owned by a variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (11.06%), State Street Corp (5.37%), FMR LLC (3.04%), JPMorgan Chase & Co. (2.93%), Deutsche Bank AG (2.29%) and Brown Advisory Inc. (2.04%). Insiders that own company stock include Hayden C Eaves III, John F Coleman, John F Coleman and Richard Reid Dunbar.
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Shares of EGP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of EGP stock can currently be purchased for approximately $168.27.

EastGroup Properties (NYSE:EGP) has a market capitalization of $7.33 billion and generates $487.02 million in revenue each year. The real estate investment trust earns $186.18 million in net income (profit) each year or $3.87 on an earnings per share basis.

EastGroup Properties' mailing address is 400 W PARKWAY PLACE SUITE 100, RIDGELAND MS, 39157. The official website for the company is www.eastgroup.net. The real estate investment trust can be reached via phone at (601) 354-3555, via email at investor@eastgroup.net, or via fax at 601-352-1441.