EastGroup Properties (NYSE:EGP) Announces Earnings Results

EastGroup Properties (NYSE:EGP) issued its earnings results on Thursday. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01), Zacks reports. The business had revenue of $182.14 million for the quarter, compared to the consensus estimate of $181.88 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $2.13 EPS. EastGroup Properties updated its FY 2025 guidance to 8.940-8.980 EPS and its Q4 2025 guidance to 2.300-2.340 EPS.

EastGroup Properties Trading Down 0.9%

NYSE EGP opened at $179.08 on Friday. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 3.68 and a beta of 1.02. EastGroup Properties has a one year low of $137.67 and a one year high of $188.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. The company’s 50-day simple moving average is $169.32 and its two-hundred day simple moving average is $166.86.

EastGroup Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.55 per share. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 30th. EastGroup Properties’s payout ratio is 133.91%.

Wall Street Analyst Weigh In

EGP has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EastGroup Properties in a report on Wednesday, October 8th. Cantor Fitzgerald began coverage on shares of EastGroup Properties in a report on Wednesday, October 1st. They issued an “overweight” rating and a $190.00 target price for the company. Evercore ISI lowered their price objective on shares of EastGroup Properties from $180.00 to $179.00 and set an “in-line” rating for the company in a research report on Monday, October 6th. Royal Bank Of Canada reduced their target price on shares of EastGroup Properties from $183.00 to $182.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 29th. Finally, Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the company an “overweight” rating in a report on Sunday, July 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.31.

Institutional Investors Weigh In On EastGroup Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGP. State of Wyoming purchased a new stake in EastGroup Properties during the 2nd quarter worth approximately $27,000. Jones Financial Companies Lllp lifted its stake in shares of EastGroup Properties by 18,900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 945 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of EastGroup Properties by 27.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,940 shares of the real estate investment trust’s stock worth $324,000 after acquiring an additional 412 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in EastGroup Properties in the second quarter valued at approximately $372,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of EastGroup Properties in the second quarter valued at about $375,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

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.