EastGroup Properties (NYSE:EGP) Issues Earnings Results, Beats Expectations By $0.99 EPS

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 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 Stock Performance

Shares of NYSE EGP opened at $174.79 on Friday. The stock’s fifty day simple moving average is $165.59 and its 200 day simple moving average is $175.75. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 3.23 and a beta of 1.00. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties has a 52-week low of $155.10 and a 52-week high of $192.61.

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 given a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.20%. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their price objective for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Morgan Stanley lowered their price objective on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Raymond James raised 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 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 for the company in a report on Monday, November 4th. Finally, KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.