EastGroup Properties (NYSE:EGP) Price Target Raised to $188.00

EastGroup Properties (NYSE:EGP) had its price objective boosted by Truist Financial from $177.00 to $188.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on the company. BNP Paribas raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a research note on Wednesday, November 5th. Wells Fargo & Company boosted their price target on EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Industrial Alliance Securities set a $200.00 price objective on EastGroup Properties in a report on Monday, October 27th. Finally, BNP Paribas Exane upgraded shares of 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.80.

EastGroup Properties Stock Performance

Shares of EGP opened at $176.39 on Wednesday. The company has a market capitalization of $9.41 billion, a PE ratio of 37.06, a PEG ratio of 3.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. The company’s 50 day moving average price is $172.44 and its 200 day moving average price is $169.12. EastGroup Properties has a 52 week low of $137.67 and a 52 week high of $188.89.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). The company had revenue of $182.14 million during the quarter, compared to analysts’ expectations of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. Research analysts expect that EastGroup Properties will post 8.94 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $1.55 dividend. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 30th. EastGroup Properties’s payout ratio is 130.25%.

Insider Buying and Selling at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the company’s stock in a transaction on 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 directly owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. This represents a 8.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Canton Hathaway LLC grew its position in shares of EastGroup Properties by 31.6% in the third quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 60 shares during the last quarter. Covestor Ltd boosted its stake in EastGroup Properties by 5.6% during the 1st quarter. Covestor Ltd now owns 1,161 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 62 shares during the period. Cetera Investment Advisers grew its holdings in 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 valued at $613,000 after buying an additional 68 shares during the last quarter. Virtus Investment Advisers LLC increased its position in EastGroup Properties by 7.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 999 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 70 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its holdings in shares of EastGroup Properties by 3.1% during the third quarter. Azzad Asset Management Inc. ADV now owns 2,361 shares of the real estate investment trust’s stock worth $400,000 after buying an additional 71 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Company Profile

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.