EastGroup Properties - EGP Stock Forecast, Price & News

9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for EastGroup Properties in the last twelve months. There are currently 5 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" EGP shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in EGP, but not buy additional shares or sell existing shares.
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9 equities research analysts have issued 12 month target prices 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 $167.70 in the next twelve months. This suggests that the stock has a possible downside of 3.5%.
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EastGroup Properties' stock was trading at $148.06 at the beginning of 2023. Since then, EGP shares have increased by 17.4% and is now trading at $173.80.
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EastGroup Properties saw a increase in short interest in the month of December. As of December 30th, there was short interest totaling 968,800 shares, an increase of 14.4% from the December 15th total of 846,900 shares. Based on an average trading volume of 260,800 shares, the days-to-cover ratio is currently 3.7 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 7th 2023.
View our EGP earnings forecast.

EastGroup Properties will be holding an earnings conference call on Wednesday, February 8th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 877-344-7529 with passcode "5810289".

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 (EPS) for the quarter, missing the consensus estimate of $1.62 by $0.81. EastGroup Properties had a net margin of 47.23% and a trailing twelve-month return on equity of 12.15%. During the same period in the prior year, the business earned $1.45 EPS.

EastGroup Properties declared a quarterly dividend on Thursday, December 1st. Stockholders of record on Friday, December 30th will be given a dividend of $1.25 per share on Friday, January 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, December 29th.
Read our dividend analysis for EGP.

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 95.24%. 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 67.75% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for EGP.

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 retail and institutional investors. Top institutional investors include Scout Investments Inc. (0.42%), New York State Common Retirement Fund (0.26%), Strs Ohio (0.14%), New York State Teachers Retirement System (0.14%), Sumitomo Mitsui Trust Holdings Inc. (0.11%) and Natixis Advisors L.P. (0.07%). Insiders that own company stock include H C Bailey Jr, 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 $173.80.

EastGroup Properties (NYSE:EGP) has a market capitalization of $7.57 billion and generates $409.48 million in revenue each year. The real estate investment trust earns $157.56 million in net income (profit) each year or $5.25 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.