Brokerages Set EastGroup Properties, Inc. (NYSE:EGP) Target Price at $221.11

EastGroup Properties, Inc. (NYSE:EGP) has received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $221.1053.

EGP has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of EastGroup Properties from $215.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wells Fargo & Company raised their price target on shares of EastGroup Properties from $213.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Raymond James Financial initiated coverage on shares of EastGroup Properties in a research report on Wednesday, June 17th. They set an “outperform” rating and a $241.00 price target on the stock. Morgan Stanley increased their price objective on EastGroup Properties from $215.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Finally, Evercore set a $206.00 target price on EastGroup Properties in a research note on Thursday, July 23rd.

Insider Buying and Selling at EastGroup Properties

In related news, Director David Michael Fields sold 504 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was 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 of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

Several institutional investors and hedge funds have recently bought and sold shares of EGP. BlackRock Inc. purchased a new position in EastGroup Properties during the second quarter worth about $1,553,186,000. Cohen & Steers Inc. raised its stake in shares of EastGroup Properties by 7.0% in the 4th quarter. Cohen & Steers Inc. now owns 3,063,576 shares of the real estate investment trust’s stock valued at $545,746,000 after acquiring an additional 200,617 shares during the period. State Street Corp lifted its holdings in shares of EastGroup Properties by 0.6% in the 3rd quarter. State Street Corp now owns 2,683,711 shares of the real estate investment trust’s stock worth $458,320,000 after acquiring an additional 15,918 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of EastGroup Properties by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,328,714 shares of the real estate investment trust’s stock worth $431,028,000 after acquiring an additional 24,910 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of EastGroup Properties in the 4th quarter worth approximately $281,054,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 0.1%

Shares of EGP opened at $203.35 on Tuesday. EastGroup Properties has a 52-week low of $160.79 and a 52-week high of $226.71. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $207.72 and a two-hundred day simple moving average of $198.78. The company has a market capitalization of $10.93 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. EastGroup Properties had a net margin of 40.47% and a return on equity of 8.61%. The firm had revenue of $193.33 million for the quarter, compared to analysts’ expectations of $193.61 million. During the same quarter in the previous year, the company posted $2.21 EPS. 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. As a group, equities analysts forecast that EastGroup Properties will post 9.6 EPS for the current year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.55 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.0%. EastGroup Properties’s dividend payout ratio is currently 108.77%.

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.