Evercore ISI Has Lowered Expectations for EastGroup Properties (NYSE:EGP) Stock Price

EastGroup Properties (NYSE:EGP) had its price target dropped by equities research analysts at Evercore ISI from $180.00 to $179.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 4.53% from the stock’s previous close.

Several other research analysts also recently commented on EGP. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the stock an “overweight” rating in a research note on Sunday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of EastGroup Properties in a research report on Saturday, September 27th. Royal Bank Of Canada lowered their price target on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 29th. Morgan Stanley raised their price objective on EastGroup Properties from $170.00 to $178.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Finally, Cantor Fitzgerald assumed coverage on EastGroup Properties in a research note on Wednesday. They issued an “overweight” rating and a $190.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.31.

EastGroup Properties Trading Up 0.6%

NYSE EGP opened at $171.24 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $165.97 and its two-hundred day simple moving average is $166.51. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $188.89. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 3.49 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. The firm had revenue of $177.29 million during the quarter, compared to analysts’ expectations of $175.80 million. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%.The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Research analysts forecast that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Institutional Investors Weigh In On EastGroup Properties

Large investors have recently made changes to their positions in the business. Citizens National Bank Trust Department purchased a new position in shares of EastGroup Properties during the first quarter valued at approximately $26,000. State of Wyoming bought a new position in EastGroup Properties in the 2nd quarter worth $27,000. Assetmark Inc. lifted its position in shares of 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 during the period. Mather Group LLC. lifted its position in shares of EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 155 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of EastGroup Properties by 31.9% during the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 108 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

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.