EastGroup Properties (NYSE:EGP) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

EastGroup Properties (NYSE:EGP) released its earnings results on Wednesday. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09, Zacks reports. The business had revenue of $193.33 million for the quarter, compared to the consensus estimate of $193.61 million. EastGroup Properties had a return on equity of 8.37% and a net margin of 39.69%.The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. EastGroup Properties updated its FY 2026 guidance to 9.520-9.660 EPS.

EastGroup Properties Stock Down 2.4%

Shares of EGP opened at $216.13 on Thursday. EastGroup Properties has a 52-week low of $159.37 and a 52-week high of $226.71. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $206.12 and a two-hundred day simple moving average of $195.86. The company has a market capitalization of $11.62 billion, a PE ratio of 39.30, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.9%. EastGroup Properties’s dividend payout ratio (DPR) is 112.73%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EGP. Barclays raised their price objective on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. KeyCorp increased their target price on shares of EastGroup Properties from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. BTIG Research raised their price target on shares of EastGroup Properties from $218.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada boosted their price target on shares of EastGroup Properties from $195.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $217.00 price objective on shares of EastGroup Properties in a research note on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.17.

Insider Activity

In related news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $195.77, for a total transaction of $98,668.08. Following the completion of the sale, the director directly owned 3,531 shares in the company, valued at approximately $691,263.87. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EGP. Jones Financial Companies Lllp lifted its position in EastGroup Properties by 18,900.0% in the first 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 during 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 worth $33,494,000 after purchasing an additional 41,538 shares during the period. 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 worth $2,797,000 after purchasing an additional 12,003 shares during the period. Focus Partners Wealth increased its holdings in EastGroup Properties by 2.2% in the 1st 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 last quarter. Finally, Cetera Investment Advisers raised its position in 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. 92.14% of the stock is currently owned by institutional investors and hedge funds.

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.