EastGroup Properties (NYSE:EGP) Reaches New 12-Month High – Time to Buy?

Shares of EastGroup Properties, Inc. (NYSE:EGP) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $210.07 and last traded at $207.6860, with a volume of 21048 shares changing hands. The stock had previously closed at $205.46.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EGP. Wells Fargo & Company upped their price target on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Morgan Stanley boosted their target price on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Robert W. Baird upped their price target on shares of EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus target price of $211.59.

EastGroup Properties Stock Performance

The company has a market capitalization of $11.21 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 3.04 and a beta of 1.03. The business’s fifty day moving average is $202.30 and its two-hundred day moving average is $192.33. 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 issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.27 by $0.50. The business had revenue of $190.26 million for 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%.The company’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 9.58 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.20 annualized dividend and a dividend yield of 3.0%. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

Insider Activity at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of EastGroup Properties stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds and other institutional investors have recently bought and sold shares of EGP. Norges Bank bought a new stake in shares of EastGroup Properties in the fourth quarter worth approximately $281,054,000. Principal Financial Group Inc. grew its position in EastGroup Properties by 16.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,303,804 shares of the real estate investment trust’s stock worth $410,404,000 after purchasing an additional 318,261 shares during the period. Alyeska Investment Group L.P. raised its stake in EastGroup Properties by 98.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 566,295 shares of the real estate investment trust’s stock valued at $100,880,000 after buying an additional 280,819 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of EastGroup Properties by 7.0% during the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock valued at $545,746,000 after buying an additional 200,617 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings 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 period. Institutional investors own 92.14% of the company’s stock.

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.