EastGroup Properties (NYSE:EGP) Price Target Raised to $215.00 at Truist Financial

EastGroup Properties (NYSE:EGP) had its target price lifted by equities research analysts at Truist Financial from $205.00 to $215.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 8.53% from the stock’s current price.

Several other analysts have also issued reports on the company. Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Evercore set a $195.00 price target on EastGroup Properties in a research report on Friday, April 24th. KeyCorp lifted their price target on EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price target for the company. in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

EastGroup Properties Stock Performance

EGP stock traded down $0.24 during midday trading on Tuesday, hitting $198.11. The company’s stock had a trading volume of 21,641 shares, compared to its average volume of 373,588. The stock’s 50-day moving average price is $192.16 and its 200 day moving average price is $185.19. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties has a 1 year low of $159.37 and a 1 year high of $203.60. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 3.01 and a beta of 1.05.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.50. The business had revenue of $190.26 million for the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities analysts forecast that EastGroup Properties will post 9.56 EPS for the current year.

Hedge Funds Weigh In On EastGroup Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of EastGroup Properties by 71.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,924 shares of the real estate investment trust’s stock valued at $726,000 after acquiring an additional 1,634 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of EastGroup Properties by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 12,827 shares of the real estate investment trust’s stock valued at $2,374,000 after acquiring an additional 200 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of EastGroup Properties by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust’s stock valued at $431,028,000 after acquiring an additional 24,910 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of EastGroup Properties by 20.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 4,344 shares of the real estate investment trust’s stock valued at $873,000 after acquiring an additional 729 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of EastGroup Properties by 21.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,413 shares of the real estate investment trust’s stock valued at $6,925,000 after acquiring an additional 6,717 shares during the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.