EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $204.3750.

A number of research analysts recently weighed in on EGP shares. KeyCorp upped their price objective on EastGroup Properties from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price on the stock. in a research report on Monday, January 5th. Morgan Stanley upped their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Evercore set a $195.00 price objective on shares of EastGroup Properties in a research note on Friday, April 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $217.00 price objective on shares of EastGroup Properties in a report on Monday, April 27th.

Hedge Funds Weigh In On EastGroup Properties

Hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in EastGroup Properties by 21.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,413 shares of the real estate investment trust’s stock worth $6,925,000 after purchasing an additional 6,717 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of EastGroup Properties by 3.9% during the 1st quarter. Fifth Third Bancorp now owns 2,612 shares of the real estate investment trust’s stock worth $483,000 after buying an additional 99 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of EastGroup Properties by 20.2% in the 1st quarter. Hsbc Holdings PLC now owns 156,264 shares of the real estate investment trust’s stock worth $28,923,000 after buying an additional 26,231 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of EastGroup Properties by 3.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,774 shares of the real estate investment trust’s stock worth $11,064,000 after buying an additional 1,881 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in EastGroup Properties by 5.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 23,611 shares of the real estate investment trust’s stock valued at $4,335,000 after acquiring an additional 1,276 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $200.41 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The company has a market cap of $10.77 billion, a P/E ratio of 36.44, a PEG ratio of 3.01 and a beta of 1.05. EastGroup Properties has a 52 week low of $159.37 and a 52 week high of $203.60. The company has a 50-day moving average price of $192.16 and a 200 day moving average price of $185.08.

EastGroup Properties (NYSE:EGP) last released its earnings results 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. The company 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 firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Research analysts predict that EastGroup Properties will post 9.56 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. EastGroup Properties’s payout ratio is 112.73%.

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.