Brokerages Set EastGroup Properties, Inc. (NYSE:EGP) PT at $210.13

EastGroup Properties, Inc. (NYSE:EGP) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $210.1250.

Several research firms have issued reports on EGP. Raymond James Financial began coverage on EastGroup Properties in a report on Wednesday, June 17th. They set an “outperform” rating and a $241.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $217.00 price target on shares of EastGroup Properties in a research note on Monday, April 27th. KeyCorp increased their price target on EastGroup Properties from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Robert W. Baird increased their price target on EastGroup Properties from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th.

EastGroup Properties Stock Down 0.1%

NYSE:EGP opened at $206.99 on Monday. The stock’s fifty day moving average price is $202.02 and its two-hundred day moving average price is $191.84. EastGroup Properties has a 52-week low of $159.37 and a 52-week high of $207.72. 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 company has a market cap of $11.13 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 3.11 and a beta of 1.04.

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 (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.50. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The firm had revenue of $190.26 million for the quarter, compared to the consensus estimate of $193.84 million. During the same quarter in the prior year, the business earned $2.15 EPS. The business’s revenue for the quarter 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. On average, analysts anticipate that EastGroup Properties will post 9.58 EPS for the current year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.55 dividend. 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 3.0%. EastGroup Properties’s dividend payout ratio is 112.73%.

Insider Buying and Selling at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of the 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 owned 3,531 shares of the company’s stock, valued at $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Cohen & Steers Inc. lifted its stake in shares of 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 valued at $545,746,000 after purchasing an additional 200,617 shares during the period. State Street Corp raised its stake in EastGroup Properties by 0.6% during the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after buying 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 worth $431,028,000 after buying an additional 24,910 shares during the period. Norges Bank acquired a new stake in EastGroup Properties during the 4th quarter worth $281,054,000. Finally, Boston Partners raised its stake 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 buying 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.