FY2025 EPS Estimates for EastGroup Properties Cut by Wedbush

EastGroup Properties, Inc. (NYSE:EGP) – Equities research analysts at Wedbush decreased their FY2025 EPS estimates for shares of EastGroup Properties in a research note issued on Monday, February 10th. Wedbush analyst R. Anderson now expects that the real estate investment trust will earn $8.95 per share for the year, down from their previous estimate of $9.05. Wedbush currently has a “Outperform” rating and a $209.00 target price on the stock. The consensus estimate for EastGroup Properties’ current full-year earnings is $8.94 per share.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Morgan Stanley reduced their price target on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. StockNews.com upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a “buy” rating and a $180.00 target price on the stock. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.88.

EastGroup Properties Stock Up 0.9 %

Shares of NYSE EGP opened at $180.55 on Thursday. The firm’s 50-day simple moving average is $166.30 and its 200 day simple moving average is $175.52. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth ratio of 3.23 and a beta of 1.00. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties has a 12-month low of $155.10 and a 12-month high of $192.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%.

Institutional Trading of EastGroup Properties

A number of institutional investors and hedge funds have recently modified their holdings of EGP. Vanguard Group Inc. increased its stake in EastGroup Properties by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust’s stock worth $1,121,978,000 after purchasing an additional 72,199 shares in the last quarter. Cohen & Steers Inc. increased its stake in EastGroup Properties by 141.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust’s stock worth $458,347,000 after purchasing an additional 1,673,663 shares in the last quarter. State Street Corp increased its stake in EastGroup Properties by 2.1% during the 3rd quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust’s stock worth $456,872,000 after purchasing an additional 49,268 shares in the last quarter. FMR LLC increased its stake in EastGroup Properties by 1.4% during the 4th quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust’s stock worth $253,496,000 after purchasing an additional 21,432 shares in the last quarter. Finally, Boston Partners increased its stake in EastGroup Properties by 34.1% during the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust’s stock worth $169,533,000 after purchasing an additional 268,359 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.10%. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.