EastGroup Properties (EGP) Stock Price, News & Analysis

Company Overview

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. The Company's goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 20,000 to 100,000 square foot range). The Company's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. The Company's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 59 million square feet.

Key Stats

• Today's Range: $159.55 to $163.89
• 50-Day Range: $158.74 to $185.27
• 52-Week Range: $155.23 to $192.61
• Volume: 1.00 million shs
• Average Volume: 305,348 shs
• Market Capitalization: $7.99 billion
• P/E Ratio: 33.36
• Dividend Yield: 3.47%
• Price Target: $191.80
• Consensus Rating: Moderate Buy

EastGroup Properties Stock Analysis - MarketRank™

EastGroup Properties scored higher than 89% of companies evaluated by MarketBeat, and ranked 171st out of 937 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

EastGroup Properties has received a consensus rating of Moderate Buy. The company's average rating score is 2.60, and is based on 7 buy ratings, 7 hold ratings, and no sell ratings.

Amount of Analyst Coverage

EastGroup Properties has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 7.42%

Earnings Growth

Earnings for EastGroup Properties are expected to grow by 7.42% in the coming year, from $8.36 to $8.98 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of EastGroup Properties is 33.36, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 120.38.

Price to Earnings Ratio vs. Sector

The P/E ratio of EastGroup Properties is 33.36, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 37.80.

Price to Earnings Growth Ratio

EastGroup Properties has a PEG Ratio of 2.22. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

EastGroup Properties has a P/B Ratio of 2.87. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

3.72% of the outstanding shares of EastGroup Properties have been sold short.

Short Interest Ratio / Days to Cover

EastGroup Properties has a short interest ratio ("days to cover") of 5.3.

Change versus previous month

Short interest in EastGroup Properties has recently increased by 5.14%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Yield

EastGroup Properties pays a meaningful dividend of 3.27%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

EastGroup Properties does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of EastGroup Properties is 115.70%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on earnings estimates, EastGroup Properties will have a dividend payout ratio of 62.36% next year. This indicates that EastGroup Properties will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.0 / 5
• Environmental Score: -2.61

Percentage of Shares Shorted

3.72% of the outstanding shares of EastGroup Properties have been sold short.

Short Interest Ratio / Days to Cover

EastGroup Properties has a short interest ratio ("days to cover") of 5.3.

Change versus previous month

Short interest in EastGroup Properties has recently increased by 5.14%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.8 / 5
• News Sentiment: 1.05

News Sentiment

EastGroup Properties has a news sentiment score of 1.05. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.79 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 9 news articles for EastGroup Properties this week, compared to 6 articles on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, EastGroup Properties insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 1.00% of the stock of EastGroup Properties is held by insiders.

Percentage Held by Institutions

92.14% of the stock of EastGroup Properties is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

EGP Stock Analysis - Frequently Asked Questions

How have EGP shares performed this year?

EastGroup Properties' stock was trading at $183.54 at the start of the year. Since then, EGP stock has decreased by 12.0% and is now trading at $161.44.
View the best growth stocks for 2024 here.

How were EastGroup Properties' earnings last quarter?

EastGroup Properties, Inc. (NYSE:EGP) released its quarterly earnings data on Wednesday, October, 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by $0.97. The company's revenue for the quarter was up 11.2% compared to the same quarter last year.

Who are EastGroup Properties' major shareholders?

EastGroup Properties' top institutional investors include State Street Corp (4.90%), FMR LLC (3.15%), Geode Capital Management LLC (1.82%) and Charles Schwab Investment Management Inc. (1.29%). Insiders that own company stock include Brent Wood, John F Coleman, Richard Reid Dunbar and Hayden C Eaves III.
View institutional ownership trends.

How do I buy shares of EastGroup Properties?

Shares of EGP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of EastGroup Properties own?

Based on aggregate information from My MarketBeat watchlists, some other companies that EastGroup Properties investors own include NVIDIA (NVDA), Meta Platforms (META), Tesla (TSLA), Home Depot (HD), Advanced Micro Devices (AMD), Netflix (NFLX) and Visa (V).

Company Calendar

• Ex-Dividend for 10/15 Dividend: 9/30/2024
• Dividend Payable: 10/15/2024
• Last Earnings: 10/23/2024
• Today: 12/21/2024
• Ex-Dividend for 1/15 Dividend: 12/31/2024
• Fiscal Year End: 12/31/2024
• Dividend Payable: 1/15/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Industrial REITs
• Current Symbol: NYSE:EGP
• CUSIP: 27727610
• CIK: 49600
• Web: www.eastgroup.net
• Phone: (601) 354-3555
• Fax: 601-352-1441
• Employees: 90
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $191.80
• High Stock Price Target: $209.00
• Low Stock Price Target: $167.00
• Potential Upside/Downside: +18.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.60
• Research Coverage: 15 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $4.84
• Trailing P/E Ratio: 33.36
• Forward P/E Ratio: 19.31
• P/E Growth: 2.22
• Net Income: $200.49 million
• Net Margins: 37.19%
• Pretax Margin: 37.20%
• Return on Equity: 8.56%
• Return on Assets: 5.01%

Debt

• Debt-to-Equity Ratio: 0.57
• Current Ratio: 0.08
• Quick Ratio: 0.08

Sales & Book Value

• Annual Sales: $625.34 million
• Price / Sales: 12.78
• Cash Flow: $7.59 per share
• Price / Cash Flow: 21.28
• Book Value: $56.31 per share
• Price / Book: 2.87

Miscellaneous

• Outstanding Shares: 49,506,000
• Free Float: 49,011,000
• Market Cap: $7.99 billion
• Optionable: Optionable
• Beta: 0.99