EastGroup Properties (NYSE:EGP) Issues Earnings Results

EastGroup Properties (NYSE:EGP) released its quarterly earnings results on Thursday. 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, Zacks reports. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. EastGroup Properties updated its Q1 2025 guidance to 2.050-2.130 EPS and its FY 2025 guidance to 8.800-9.000 EPS.

EastGroup Properties Stock Up 0.7 %

NYSE:EGP traded up $1.28 during trading hours on Thursday, hitting $173.28. 426,423 shares of the company’s stock traded hands, compared to its average volume of 377,937. The stock’s fifty day moving average price is $165.55 and its two-hundred day moving average price is $175.88. The firm has a market cap of $8.58 billion, a P/E ratio of 35.80, a P/E/G ratio of 3.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. EastGroup Properties has a twelve month low of $155.10 and a twelve month high of $192.61.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.23%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They set a “buy” rating and a $180.00 target price on the stock. Morgan Stanley dropped their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their price target on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.88.

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.