Wedbush Cuts Earnings Estimates for EastGroup Properties

EastGroup Properties, Inc. (NYSE:EGP - Free Report) - Analysts at Wedbush decreased their FY2025 earnings estimates for shares of EastGroup Properties in a research note issued on Monday, February 10th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $8.95 per share for the year, down from their previous forecast of $9.05. Wedbush currently has a "Outperform" rating and a $209.00 price target on the stock. The consensus estimate for EastGroup Properties' current full-year earnings is $8.94 per share.

A number of other brokerages have also weighed in on EGP. Wells Fargo & Company dropped their price target on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target on the stock. StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Truist Financial boosted their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Raymond James upgraded shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $185.00 to $200.00 in a report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.53.

EastGroup Properties Stock Down 0.4 %

NYSE:EGP traded down $0.78 during mid-day trading on Thursday, hitting $179.64. 422,976 shares of the company's stock traded hands, compared to its average volume of 372,462. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $8.89 billion, a P/E ratio of 38.63, a P/E/G ratio of 3.23 and a beta of 1.00. The company has a fifty day moving average of $166.53 and a 200 day moving average of $175.31. EastGroup Properties has a twelve month low of $155.10 and a twelve month high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) 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 analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 8.27% and a net margin of 35.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EGP. V Square Quantitative Management LLC raised its holdings in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 61 shares during the period. CIBC Asset Management Inc increased its stake in EastGroup Properties by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 72 shares during the period. Principal Securities Inc. increased its stake in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of EastGroup Properties by 7.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 90 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after purchasing an additional 95 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.12%. EastGroup Properties's dividend payout ratio is currently 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.