EastGroup Properties (NYSE:EGP) Announces Quarterly Earnings Results

EastGroup Properties (NYSE:EGP - Get Free Report) announced its quarterly earnings data on Thursday. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.99, Zacks reports. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%. 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 Trading Up 1.2 %

Shares of NYSE EGP traded up $2.08 during trading hours on Monday, hitting $176.74. 848,882 shares of the company traded hands, compared to its average volume of 410,569. The company's 50 day moving average price is $165.71 and its 200 day moving average price is $175.52. EastGroup Properties has a 12 month low of $155.10 and a 12 month high of $192.61. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Tuesday, December 31st. EastGroup Properties's dividend payout ratio (DPR) is 120.43%.

Analyst Ratings Changes

EGP has been the subject of a number of analyst reports. Morgan Stanley cut their price target on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and boosted their price target for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Truist Financial cut their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating for the company in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $190.88.

EastGroup Properties Company Profile

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.