EastGroup Properties (NYSE:EGP) Issues Quarterly Earnings Results

EastGroup Properties (NYSE:EGP) released its quarterly earnings results on Wednesday. The real estate investment trust reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.07, reports. The company had revenue of $190.26 million for the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 7.43% and a net margin of 35.68%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 earnings per share. EastGroup Properties updated its FY 2026 guidance to 9.460-9.660 EPS.

EastGroup Properties Trading Down 0.7%

Shares of NYSE EGP traded down $1.49 during mid-day trading on Thursday, hitting $199.38. 103,832 shares of the company traded hands, compared to its average volume of 366,025. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. EastGroup Properties has a 1 year low of $159.18 and a 1 year high of $203.60. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 3.29 and a beta of 1.09. The business has a 50 day moving average of $191.03 and a two-hundred day moving average of $183.84.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.1%. EastGroup Properties’s payout ratio is 127.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EGP. Deutsche Bank Aktiengesellschaft lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price for the company. in a research report on Monday, January 5th. Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Robert W. Baird set a $203.00 target price on EastGroup Properties in a report on Wednesday, February 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EastGroup Properties in a research report on Friday, March 27th. Finally, Truist Financial boosted their price objective on EastGroup Properties from $203.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, EastGroup Properties presently has an average rating of “Moderate Buy” and an average target price of $200.76.

Institutional Trading of EastGroup Properties

A number of hedge funds have recently bought and sold shares of EGP. Alyeska Investment Group L.P. increased its position in shares of EastGroup Properties by 98.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 566,295 shares of the real estate investment trust’s stock worth $100,880,000 after acquiring an additional 280,819 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of EastGroup Properties by 623.9% in the fourth quarter. Corient Private Wealth LLC now owns 174,997 shares of the real estate investment trust’s stock valued at $31,174,000 after purchasing an additional 150,822 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of EastGroup Properties by 14.9% in the fourth quarter. Invesco Ltd. now owns 1,024,829 shares of the real estate investment trust’s stock valued at $182,563,000 after purchasing an additional 132,878 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of EastGroup Properties by 112.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 172,090 shares of the real estate investment trust’s stock worth $30,656,000 after buying an additional 91,231 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of EastGroup Properties during the second quarter valued at $13,791,000. 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 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.