EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $221.1053.

Several equities research analysts have commented on EGP shares. Weiss Ratings reiterated a “buy (b)” rating on shares of EastGroup Properties in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on EastGroup Properties from $208.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. Citigroup boosted their price target on EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Raymond James Financial initiated coverage on EastGroup Properties in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 price objective for the company. Finally, Robert W. Baird set a $221.00 price objective on EastGroup Properties in a report on Friday, July 31st.

Insider Buying and Selling at EastGroup Properties

In related 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 transaction of $98,668.08. Following the transaction, the director directly owned 3,531 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in shares of EastGroup Properties by 18,900.0% in the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 945 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after buying an additional 41,538 shares during the last quarter. Jane Street Group LLC grew its holdings in EastGroup Properties by 309.8% in the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after buying an additional 12,003 shares in the last quarter. Focus Partners Wealth grew its holdings in EastGroup Properties by 2.2% in the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after buying an additional 130 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of EastGroup Properties by 1.9% in 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 last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Performance

EGP opened at $201.57 on Tuesday. The firm’s fifty day simple moving average is $207.13 and its two-hundred day simple moving average is $197.98. EastGroup Properties has a 52-week low of $159.37 and a 52-week high of $226.71. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 3.04 and a beta of 1.02. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping 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 business 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 company’s quarterly revenue was up 9.0% on a year-over-year basis. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Equities analysts anticipate that EastGroup Properties will post 9.6 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, June 30th. EastGroup Properties’s dividend payout ratio is 108.77%.

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.