EastGroup Properties (NYSE:EGP) Price Target Raised to $180.00

EastGroup Properties (NYSE:EGP) had its target price boosted by analysts at Morgan Stanley from $178.00 to $180.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price would suggest a potential upside of 0.09% from the company’s previous close.

EGP has been the topic of several other reports. Wells Fargo & Company lifted their target price on EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Industrial Alliance Securities set a $200.00 price target on EastGroup Properties in a research report on Monday, October 27th. BNP Paribas Exane upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective on the stock in a report on Monday, October 27th. BNP Paribas raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 target price for the company in a research note on Monday, October 27th. Finally, Evercore ISI cut their price target on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating on the stock in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.93.

EastGroup Properties Trading Down 0.4%

EastGroup Properties stock traded down $0.71 during midday trading on Tuesday, hitting $179.83. 44,772 shares of the stock were exchanged, compared to its average volume of 406,414. The company has a fifty day simple moving average of $175.32 and a two-hundred day simple moving average of $170.12. EastGroup Properties has a 52 week low of $137.67 and a 52 week high of $188.89. The stock has a market capitalization of $9.59 billion, a PE ratio of 37.78, a P/E/G ratio of 3.67 and a beta of 1.04. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.01). The firm had revenue of $182.14 million during the quarter, compared to the consensus estimate of $181.88 million. EastGroup Properties had a net margin of 35.58% and a return on equity of 7.28%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.13 EPS. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. Equities research analysts anticipate that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Insider Activity

In related news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. The trade was a 8.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On EastGroup Properties

A number of institutional investors have recently made changes to their positions in the company. Assetmark Inc. raised its stake in EastGroup Properties by 1,035.7% in the 1st quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 145 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of EastGroup Properties by 159.7% during the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 99 shares during the period. State of Wyoming acquired a new stake in shares of EastGroup Properties in the second quarter valued at approximately $27,000. MAI Capital Management boosted 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. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of EastGroup Properties in the third quarter valued at approximately $34,000. Institutional investors own 92.14% of the company’s stock.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.