EastGroup Properties (NYSE:EGP) Posts Quarterly Earnings Results, Beats Expectations By $1.05 EPS

EastGroup Properties (NYSE:EGP) released its quarterly earnings data on Wednesday. The real estate investment trust reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $1.05, Zacks reports. The business had revenue of $193.33 million during the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. EastGroup Properties updated its FY 2026 guidance to 9.520-9.660 EPS.

EastGroup Properties Stock Down 2.4%

Shares of NYSE EGP traded down $5.21 on Wednesday, hitting $216.13. The company had a trading volume of 528,015 shares, compared to its average volume of 389,970. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. EastGroup Properties has a 12-month low of $159.37 and a 12-month high of $226.71. The firm has a market capitalization of $11.62 billion, a P/E ratio of 24.16, a PEG ratio of 3.32 and a beta of 1.03. The business has a 50 day moving average of $205.87 and a two-hundred day moving average of $195.60.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 2.9%. EastGroup Properties’s dividend payout ratio is presently 112.73%.

Insider Activity at EastGroup Properties

In other news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the sale, the director owned 3,531 shares in the company, valued at $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

A number of hedge funds have recently made changes to their positions in EGP. Alyeska Investment Group L.P. lifted its position in shares of EastGroup Properties by 98.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 566,295 shares of the real estate investment trust’s stock worth $100,880,000 after buying an additional 280,819 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of EastGroup Properties by 623.9% during the 4th quarter. Corient Private Wealth LLC now owns 174,997 shares of the real estate investment trust’s stock valued at $31,174,000 after buying an additional 150,822 shares during the last quarter. Invesco Ltd. raised its stake in EastGroup Properties by 14.9% during the fourth quarter. Invesco Ltd. now owns 1,024,829 shares of the real estate investment trust’s stock worth $182,563,000 after acquiring an additional 132,878 shares during the period. Balyasny Asset Management L.P. raised its stake in EastGroup Properties by 112.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 172,090 shares of the real estate investment trust’s stock worth $30,656,000 after acquiring an additional 91,231 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in EastGroup Properties in the second quarter worth about $13,791,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EGP. Royal Bank Of Canada lifted their target price on EastGroup Properties from $195.00 to $208.00 and gave the company a “sector perform” rating in a report on Tuesday, April 28th. Barclays raised their price objective on EastGroup Properties from $210.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Robert W. Baird boosted their target price on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. BTIG Research increased their target price on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Truist Financial raised their price target on shares of EastGroup Properties from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.17.

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.