EastGroup Properties, Inc. (NYSE:EGP) Stock Has Average Target Price of $221.37

EastGroup Properties, Inc. (NYSE:EGP) has received an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $221.32.

A number of equities analysts recently weighed in on the company. Raymond James Financial started coverage on EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price target for the company. Evercore set a $199.00 price objective on EastGroup Properties in a report on Friday. JPMorgan Chase & Co. upgraded EastGroup Properties from a “neutral” rating to an “overweight” rating and set a $231.00 price objective for the company in a research report on Thursday, September 24th. Piper Sandler reaffirmed an “overweight” rating on shares of EastGroup Properties in a research note on Thursday, August 13th. Finally, KeyCorp increased their target price on EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 13th.

EastGroup Properties Stock Performance

Shares of NYSE EGP opened at $195.77 on Wednesday. The company’s fifty day moving average price is $201.70 and its 200 day moving average price is $201.33. EastGroup Properties has a 1 year low of $166.11 and a 1 year high of $226.71. The company has a market capitalization of $10.53 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.16 and a current ratio of 0.16.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million during the quarter, compared to analysts’ expectations of $193.61 million. During the same quarter in the previous year, the company earned $2.21 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. On average, research analysts predict that EastGroup Properties will post 9.6 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.55. This represents a $7.00 annualized dividend and a yield of 3.6%. EastGroup Properties’s payout ratio is 122.81%.

Institutional Trading of EastGroup Properties

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of EastGroup Properties during the 2nd quarter worth about $1,553,186,000. Norges Bank acquired a new stake in EastGroup Properties in the 4th quarter worth about $281,054,000. Deutsche Bank AG purchased a new stake in EastGroup Properties during the 2nd quarter worth approximately $114,775,000. Bank of America Corp DE purchased a new stake in EastGroup Properties during the 2nd quarter worth approximately $94,505,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of EastGroup Properties during the second quarter valued at approximately $93,282,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a self-administered and self-managed equity real estate investment trust (REIT) that develops, acquires, owns and operates industrial properties. Its portfolio is primarily composed of distribution and warehouse facilities designed to support customers’ logistics, manufacturing and regional fulfillment needs.

The company focuses on functional, well-located industrial properties in major Sun Belt markets, with an emphasis on infill locations near population centers, transportation networks and business districts.