EastGroup Properties - EGP Stock Forecast, Price & News

10 Wall Street 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 research analysts is that investors should "buy" EGP shares.
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10 equities research analysts have issued 1 year price targets for EastGroup Properties' shares. Their EGP share price forecasts range from $144.00 to $198.00. On average, they predict the company's share price to reach $170.30 in the next year. This suggests a possible upside of 5.1% from the stock's current price.
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EastGroup Properties' stock was trading at $148.06 on January 1st, 2023. Since then, EGP stock has increased by 9.4% and is now trading at $162.01.
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EastGroup Properties saw a drop in short interest in February. As of February 28th, there was short interest totaling 706,600 shares, a drop of 20.6% from the February 13th total of 889,900 shares. Based on an average daily volume of 230,200 shares, the short-interest ratio is presently 3.1 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 25th 2023.
View our EGP earnings forecast.

EastGroup Properties, Inc. (NYSE:EGP) issued its earnings results on Tuesday, April, 26th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by $0.81. EastGroup Properties had a trailing twelve-month return on equity of 9.79% and a net margin of 38.23%. During the same quarter in the prior year, the company earned $1.45 earnings per share.

EastGroup Properties declared a quarterly dividend on Friday, March 3rd. Stockholders of record on Friday, March 31st will be given a dividend of $1.25 per share on Friday, April 14th. This represents a $5.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, March 30th.
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), ETFB Green SRI REITs ETF (RITA), ALPS REIT Dividend Dogs ETF (RDOG), SP Funds S&P Global REIT Sharia ETF (SPRE), WisdomTree New Economy Real Estate Fund (WTRE), Invesco Active U.S. Real Estate ETF (PSR), IQ CBRE NextGen Real Estate ETF (ROOF) 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 3.15%. 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 113.90%. 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 63.05% 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 Tuesday, February, 7th. The company provided earnings per share (EPS) guidance of $7.30-$7.50 for the period. 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 number of institutional and retail investors. Top institutional investors include T. Rowe Price Investment Management Inc. (4.76%), Morgan Stanley (4.69%), JPMorgan Chase & Co. (2.89%), Deutsche Bank AG (2.79%), Brown Advisory Inc. (2.00%) and Price T Rowe Associates Inc. MD (1.65%). Insiders that own company stock include H C Bailey Jr, John F Coleman, John F Coleman and Richard Reid Dunbar.
View institutional ownership trends.

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 $162.01.

EastGroup Properties (NYSE:EGP) has a market capitalization of $7.06 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 $4.39 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.