EastGroup Properties (NYSE:EGP) Price Target Raised to $230.00 at Truist Financial

EastGroup Properties (NYSE:EGP) had its target price increased by stock analysts at Truist Financial from $215.00 to $230.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 9.18% from the company’s previous close.

Several other equities research analysts have also recently weighed in on EGP. KeyCorp upped their price target on EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Raymond James Financial assumed coverage on EastGroup Properties in a report on Wednesday, June 17th. They issued an “outperform” rating and a $241.00 target price on the stock. Wells Fargo & Company increased their target price on EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Morgan Stanley raised their price target on EastGroup Properties from $215.00 to $231.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Finally, Citigroup lifted their price target on EastGroup Properties from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target of $219.89.

EastGroup Properties Trading Down 1.1%

Shares of EGP opened at $210.67 on Tuesday. The firm’s 50 day simple moving average is $206.76 and its 200 day simple moving average is $196.54. The company has a market capitalization of $11.33 billion, a P/E ratio of 36.96, a P/E/G ratio of 3.20 and a beta of 1.03. EastGroup Properties has a 1-year low of $159.37 and a 1-year high of $226.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.16.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The firm had revenue of $193.33 million during the quarter, compared to analyst estimates of $193.61 million. During the same quarter in the previous year, the company posted $2.21 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. Sell-side analysts forecast that EastGroup Properties will post 9.59 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 on Thursday, June 4th. The stock was sold at an average price of $195.77, for a total transaction of $98,668.08. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of EastGroup Properties by 5.1% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 711,109 shares of the real estate investment trust’s stock valued at $126,677,000 after buying an additional 34,515 shares during the last quarter. Corient Private Wealth LLC increased its holdings in EastGroup Properties by 22.1% in the 4th quarter. Corient Private Wealth LLC now owns 29,516 shares of the real estate investment trust’s stock worth $5,260,000 after buying an additional 5,341 shares in the last quarter. Heartland Advisors Inc. raised its position in EastGroup Properties by 13.7% in the 4th quarter. Heartland Advisors Inc. now owns 42,705 shares of the real estate investment trust’s stock worth $7,607,000 after buying an additional 5,160 shares during the last quarter. AE Wealth Management LLC raised its position in EastGroup Properties by 30.6% in the 4th quarter. AE Wealth Management LLC now owns 198,900 shares of the real estate investment trust’s stock worth $35,432,000 after buying an additional 46,653 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in EastGroup Properties during the 4th quarter valued at about $879,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Company Profile

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.