EastGroup Properties, Inc. (NYSE:EGP) Receives Consensus Rating of “Moderate Buy” from Analysts

EastGroup Properties, Inc. (NYSE:EGP) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $188.3077.

Several equities research analysts have issued reports on EGP shares. Cantor Fitzgerald started coverage on shares of EastGroup Properties in a research note on Wednesday, October 1st. They set an “overweight” rating and a $190.00 target price on the stock. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Royal Bank Of Canada lowered their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 29th. Morgan Stanley lifted their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of EastGroup Properties in a report on Wednesday, October 8th.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $170.19 on Wednesday. The company’s fifty day moving average price is $166.91 and its 200 day moving average price is $166.30. EastGroup Properties has a 1 year low of $137.67 and a 1 year high of $188.89. The stock has a market capitalization of $9.08 billion, a P/E ratio of 36.76, a P/E/G ratio of 3.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm had revenue of $177.29 million for the quarter, compared to analysts’ expectations of $175.80 million. During the same quarter last year, the company earned $2.05 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. As a group, equities research analysts anticipate that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.6%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.40. EastGroup Properties’s payout ratio is presently 133.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Covestor Ltd raised its holdings in shares of EastGroup Properties by 5.6% during the 1st quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 62 shares during the period. Cetera Investment Advisers raised its holdings in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 68 shares during the period. KBC Group NV raised its holdings in shares of EastGroup Properties by 3.5% during the 1st quarter. KBC Group NV now owns 2,058 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 69 shares during the period. Virtus Investment Advisers LLC raised its holdings in shares of EastGroup Properties by 7.5% during the 2nd quarter. Virtus Investment Advisers LLC now owns 999 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 70 shares during the period. Finally, Moran Wealth Management LLC raised its holdings in shares of EastGroup Properties by 1.1% during the 1st quarter. Moran Wealth Management LLC now owns 6,521 shares of the real estate investment trust’s stock worth $1,149,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

About EastGroup Properties

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.