EastGroup Properties (NYSE:EGP) Raised to Overweight at JPMorgan Chase & Co.

EastGroup Properties (NYSE:EGP) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a $231.00 price objective on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 14.21% from the stock’s previous close.

Several other research analysts also recently commented on EGP. Piper Sandler reaffirmed an “overweight” rating on shares of EastGroup Properties in a research note on Thursday, August 13th. Citigroup increased their price target on shares of EastGroup Properties from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Evercore set a $200.00 price objective on shares of EastGroup Properties in a research report on Monday. Royal Bank Of Canada upped their price objective on shares of EastGroup Properties from $208.00 to $220.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings cut EastGroup Properties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 9th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.37.

EastGroup Properties Stock Down 0.6%

Shares of EGP opened at $202.26 on Thursday. EastGroup Properties has a 1 year low of $164.80 and a 1 year high of $226.71. The firm has a market cap of $10.88 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.96 and a beta of 1.01. The stock has a 50 day simple moving average of $204.38 and a two-hundred day simple moving average of $200.82. 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 earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The company had revenue of $193.33 million for the quarter, compared to analysts’ expectations of $193.61 million. During the same quarter last year, the company earned $2.21 EPS. The firm’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. On average, analysts forecast that EastGroup Properties will post 9.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC lifted its position in shares of EastGroup Properties by 4.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,520 shares of the real estate investment trust’s stock valued at $281,000 after acquiring an additional 60 shares during the period. Waverly Advisors LLC grew its holdings in shares of EastGroup Properties by 4.2% in the 2nd quarter. Waverly Advisors LLC now owns 1,554 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 62 shares during the period. EverSource Wealth Advisors LLC grew its holdings in EastGroup Properties by 3.9% in the first quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in EastGroup Properties by 2.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,174 shares of the real estate investment trust’s stock valued at $845,000 after acquiring an additional 82 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of EastGroup Properties by 1.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,659 shares of the real estate investment trust’s stock worth $830,000 after purchasing an additional 85 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust that owns, develops, acquires and operates industrial properties. The company focuses primarily on business distribution space, including functional warehouse and light industrial facilities designed to support local and regional distribution, manufacturing and service businesses.

EastGroup concentrates its portfolio in major Sun Belt markets, with a presence in states including Arizona, California, Florida, Georgia, Nevada, North Carolina, Oklahoma, Tennessee and Texas.