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

EastGroup Properties, Inc. (NYSE:EGP) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $206.40.

A number of equities analysts have weighed in on EGP shares. Piper Sandler lifted their price target on shares of EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Evercore set a $195.00 price target on shares of EastGroup Properties in a report on Friday, April 24th. Wall Street Zen raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings raised EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Truist Financial lifted their price objective on EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th.

EastGroup Properties Stock Down 0.5%

Shares of NYSE:EGP opened at $205.89 on Thursday. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 3.11 and a beta of 1.05. The stock’s 50-day moving average price is $196.23 and its two-hundred day moving average price is $188.38. EastGroup Properties has a 12-month low of $159.37 and a 12-month high of $207.72. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. The company had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. EastGroup Properties’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, research analysts forecast that EastGroup Properties will post 9.56 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed 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. This represents a $6.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th. EastGroup Properties’s payout ratio is currently 112.73%.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds and other institutional investors have recently modified their holdings of EGP. Bank of America Corp DE lifted its holdings in shares of EastGroup Properties by 3.8% during the 1st quarter. Bank of America Corp DE now owns 431,278 shares of the real estate investment trust’s stock valued at $79,825,000 after acquiring an additional 15,722 shares in the last quarter. Amundi lifted its holdings in shares of EastGroup Properties by 3.6% during the 1st quarter. Amundi now owns 29,393 shares of the real estate investment trust’s stock valued at $5,440,000 after acquiring an additional 1,030 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of EastGroup Properties by 3.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust’s stock valued at $373,000 after acquiring an additional 75 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of EastGroup Properties by 22.7% during the 1st quarter. California State Teachers Retirement System now owns 62,095 shares of the real estate investment trust’s stock valued at $11,493,000 after acquiring an additional 11,504 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of EastGroup Properties by 2.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 272,324 shares of the real estate investment trust’s stock valued at $50,404,000 after acquiring an additional 7,301 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

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.