EastGroup Properties (NYSE:EGP) Posts Quarterly Earnings Results, Beats Estimates By $0.99 EPS

EastGroup Properties (NYSE:EGP) released its quarterly earnings results on Thursday. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99, Zacks reports. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. EastGroup Properties updated its Q1 2025 guidance to 2.050-2.130 EPS and its FY 2025 guidance to 8.800-9.000 EPS.

EastGroup Properties Stock Up 0.7 %

Shares of NYSE EGP traded up $1.28 during mid-day trading on Thursday, hitting $173.28. The company had a trading volume of 426,188 shares, compared to its average volume of 377,937. The company has a market capitalization of $8.58 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. EastGroup Properties has a 1-year low of $155.10 and a 1-year high of $192.61. The business’s 50-day simple moving average is $165.55 and its 200 day simple moving average is $175.88.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EGP shares. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Wedbush restated an “outperform” rating and issued a $209.00 price objective on shares of EastGroup Properties in a research note on Friday, October 25th. Barclays dropped their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Finally, Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.88.

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.