EastGroup Properties (NYSE:EGP) Raised to Moderate Buy at Raymond James Financial

EastGroup Properties (NYSE:EGP) was upgraded by Raymond James Financial to a “moderate buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Evercore set a $195.00 target price on shares of EastGroup Properties in a research report on Friday, April 24th. Weiss Ratings upgraded EastGroup Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Wells Fargo & Company raised their target price on EastGroup Properties from $213.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Robert W. Baird lifted their price target on EastGroup Properties from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus target price of $210.12.

EastGroup Properties Trading Up 1.3%

Shares of NYSE:EGP opened at $200.08 on Wednesday. EastGroup Properties has a 1 year low of $159.37 and a 1 year high of $207.72. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The business’s 50 day moving average price is $200.83 and its 200-day moving average price is $190.81.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.77 EPS for the quarter, topping the consensus estimate of $1.27 by $0.50. The company had revenue of $190.26 million during the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. On average, equities research analysts forecast that EastGroup Properties will post 9.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EastGroup Properties news, Director David Michael Fields sold 504 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total value of $98,668.08. Following the completion of the sale, the director owned 3,531 shares in the company, valued at approximately $691,263.87. This represents a 12.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On EastGroup Properties

Several hedge funds and other institutional investors have recently made changes to their positions in EGP. Jones Financial Companies Lllp grew its holdings in EastGroup Properties by 18,900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 945 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after acquiring an additional 41,538 shares during the last quarter. Jane Street Group LLC boosted its position in shares of EastGroup Properties by 309.8% during 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 acquiring an additional 12,003 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after purchasing an additional 130 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of EastGroup Properties by 1.9% in the second quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

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.