EastGroup Properties (NYSE:EGP) Shares Gap Up – Time to Buy?

EastGroup Properties, Inc. (NYSE:EGP)’s share price gapped up prior to trading on Friday . The stock had previously closed at $213.11, but opened at $221.43. EastGroup Properties shares last traded at $225.8650, with a volume of 15,870 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently commented on EGP shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $217.00 price target on shares of EastGroup Properties in a research report on Monday, April 27th. Barclays upped their price objective on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore set a $195.00 target price on EastGroup Properties in a report on Friday, April 24th. Morgan Stanley lifted their target price on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Finally, Robert W. Baird boosted their price target on EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.06.

EastGroup Properties Trading Up 0.4%

The firm has a market cap of $12.06 billion, a P/E ratio of 40.74, a P/E/G ratio of 3.20 and a beta of 1.03. 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 firm has a fifty day moving average of $204.83 and a 200-day moving average of $194.72.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.50. The firm had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities research analysts forecast that EastGroup Properties, Inc. will post 9.59 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

Insiders Place Their Bets

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the sale, the director directly owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EastGroup Properties

Several large investors have recently made changes to their positions in EGP. Cohen & Steers Inc. grew its holdings in EastGroup Properties by 7.0% in the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock worth $545,746,000 after buying an additional 200,617 shares in the last quarter. State Street Corp increased its position in EastGroup Properties by 0.6% in the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock valued at $458,320,000 after acquiring an additional 15,918 shares during the period. Principal Financial Group Inc. raised its stake in EastGroup Properties by 1.1% during 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 in the last quarter. Norges Bank acquired a new position in EastGroup Properties during the 4th quarter worth $281,054,000. Finally, Boston Partners boosted its position in EastGroup Properties by 2.1% during the 3rd quarter. Boston Partners now owns 1,204,211 shares of the real estate investment trust’s stock worth $203,834,000 after acquiring an additional 25,055 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

About EastGroup Properties

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.