EastGroup Properties (EGP) Stock Forecast, Price & News

9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for EastGroup Properties in the last twelve months. There are currently 3 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" EGP shares.
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9 brokerages have issued 12 month price objectives for EastGroup Properties' stock. Their EGP share price forecasts range from $158.00 to $218.00. On average, they expect the company's share price to reach $189.78 in the next twelve months. This suggests a possible upside of 14.0% from the stock's current price.
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EastGroup Properties' stock was trading at $148.06 at the beginning of 2023. Since then, EGP stock has increased by 12.5% and is now trading at $166.53.
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EastGroup Properties saw a drop in short interest in September. As of September 15th, there was short interest totaling 836,900 shares, a drop of 7.7% from the August 31st total of 906,400 shares. Based on an average trading volume of 281,400 shares, the days-to-cover ratio is currently 3.0 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 24th 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 EPS for the quarter, missing analysts' consensus estimates of $1.62 by $0.81. EastGroup Properties had a net margin of 31.03% and a trailing twelve-month return on equity of 8.04%. During the same period last year, the business posted $1.45 EPS.

EastGroup Properties declared a quarterly dividend on Friday, August 25th. Investors of record on Friday, September 29th will be given a dividend of $1.27 per share on Friday, October 13th. This represents a $5.08 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Thursday, September 28th. This is a boost from the stock's previous quarterly dividend of $1.25.
Read our dividend analysis for EGP.

ETFs with the largest weight of EastGroup Properties (NYSE:EGP) stock in their portfolio include Private Real Estate Strategy via Liquid REITs ETF (PRVT), 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) and WisdomTree New Economy Real Estate Fund (WTRE).

EastGroup Properties (NYSE:EGP) pays an annual dividend of $5.08 per share and currently has a dividend yield of 3.06%. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 135.47%. 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 62.25% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for EGP.

EastGroup Properties issued an update on its FY 2023 earnings guidance on Wednesday, July, 26th. The company provided earnings per share guidance of $7.58-$7.68 for the period, compared to the consensus earnings per share estimate of $7.55. 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), RTX (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."

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 $166.53.

EastGroup Properties (NYSE:EGP) has a market capitalization of $7.56 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 $3.75 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.