Brokerages Set EastGroup Properties, Inc. (NYSE:EGP) Price Target at $188.25

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $188.25.

Several research analysts recently issued reports on the stock. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Evercore ISI boosted their target price on shares of EastGroup Properties from $176.00 to $180.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Morgan Stanley increased their price target on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Finally, Royal Bank Of Canada lowered their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a report on Tuesday, July 29th.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings in EastGroup Properties by 49.5% during the 2nd quarter. Corient Private Wealth LLC now owns 21,921 shares of the real estate investment trust’s stock worth $3,664,000 after purchasing an additional 7,254 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of EastGroup Properties by 64.7% during the 2nd quarter. Osaic Holdings Inc. now owns 2,633 shares of the real estate investment trust’s stock worth $447,000 after buying an additional 1,034 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of EastGroup Properties by 94.4% during the second quarter. Thrivent Financial for Lutherans now owns 23,674 shares of the real estate investment trust’s stock worth $3,956,000 after buying an additional 11,496 shares during the last quarter. State of Wyoming acquired a new position in EastGroup Properties in the second quarter valued at approximately $27,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in EastGroup Properties by 6.9% in the second quarter. CANADA LIFE ASSURANCE Co now owns 116,882 shares of the real estate investment trust’s stock valued at $19,539,000 after acquiring an additional 7,565 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of EastGroup Properties stock opened at $168.34 on Friday. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 3.38 and a beta of 1.01. The firm’s 50-day moving average price is $165.60 and its two-hundred day moving average price is $166.98. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. EastGroup Properties has a 1-year low of $137.67 and a 1-year high of $190.08.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $2.20 by $0.01. The business had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.EastGroup Properties’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. On average, equities analysts predict that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.7%. EastGroup Properties’s dividend payout ratio is presently 120.95%.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.