EastGroup Properties (NYSE:EGP) Hits New 1-Year High – What’s Next?

Shares of EastGroup Properties, Inc. (NYSE:EGP) reached a new 52-week high on Wednesday . The stock traded as high as $216.98 and last traded at $214.5930, with a volume of 432448 shares. The stock had previously closed at $212.24.

Analysts Set New Price Targets

EGP has been the topic of several recent analyst reports. Evercore set a $195.00 price objective on EastGroup Properties in a research report on Friday, April 24th. KeyCorp upped their target price on shares of EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price target on shares of EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Raymond James Financial initiated coverage on shares of EastGroup Properties in a report on Wednesday, June 17th. They set an “outperform” rating and a $241.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $217.00 price objective on shares of EastGroup Properties in a research report on Monday, April 27th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.59.

EastGroup Properties Stock Up 1.1%

The company’s 50-day moving average price is $203.24 and its 200 day moving average price is $193.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market cap of $11.54 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.50. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The company had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. During the same period in the previous year, the business posted $2.15 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, analysts forecast that EastGroup Properties, Inc. will post 9.58 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.9%. EastGroup Properties’s payout ratio is presently 112.73%.

Insider Buying and Selling

In related news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, the director directly owned 3,531 shares of the company’s stock, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of EastGroup Properties during the 2nd quarter valued at approximately $27,000. Glen Eagle Advisors LLC raised its stake in EastGroup Properties by 96.3% during the 1st quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 104 shares during the period. Parallel Advisors LLC lifted its holdings in EastGroup Properties by 53.5% during the third quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 85 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in EastGroup Properties by 114.9% during the fourth quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 139 shares in the last quarter. Finally, Avalon Trust Co bought a new position in shares of EastGroup Properties in the first quarter worth approximately $46,000. Institutional investors own 92.14% of the company’s stock.

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.