EastGroup Properties (NYSE:EGP) Stock Rating Upgraded by Raymond James Financial

EastGroup Properties (NYSE:EGP) was upgraded by Raymond James Financial to a “moderate buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald restated an “overweight” rating and set a $217.00 price target on shares of EastGroup Properties in a report on Monday, April 27th. Robert W. Baird lifted their target price on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Wells Fargo & Company upped their target price on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, Morgan Stanley increased their price target on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $210.12.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $200.08 on Wednesday. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.19. EastGroup Properties has a fifty-two week low of $159.37 and a fifty-two week high of $207.72. The firm’s 50-day simple moving average is $200.83 and its 200 day simple moving average is $190.81.

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 (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.50. The business had revenue of $190.26 million during the quarter, compared to the consensus estimate of $193.84 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.EastGroup Properties’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.15 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. As a group, research analysts anticipate that EastGroup Properties will post 9.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the transaction, the director directly owned 3,531 shares in the company, valued at $691,263.87. The trade was a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EastGroup Properties

Hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new position in EastGroup Properties in the second quarter valued at approximately $27,000. MAI Capital Management raised its stake in shares of EastGroup Properties by 83.7% in the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 82 shares during the period. Glen Eagle Advisors LLC raised its stake in shares of EastGroup Properties by 96.3% in the first quarter. Glen Eagle Advisors LLC now owns 212 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 104 shares during the period. Parallel Advisors LLC lifted its position in shares of EastGroup Properties by 53.5% during the 3rd quarter. Parallel Advisors LLC now owns 244 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 85 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of EastGroup Properties by 114.9% during the 4th quarter. Clearstead Advisors LLC now owns 260 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 139 shares during the last quarter. Institutional investors 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.