EastGroup Properties (NYSE:EGP) Posts Quarterly Earnings Results, Beats Estimates By $1.07 EPS
by Amy Steele · The Cerbat GemEastGroup Properties (NYSE:EGP – Get Free Report) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.07, reports. The business had revenue of $190.26 million during the quarter, compared to analysts’ expectations of $193.84 million. EastGroup Properties had a return on equity of 7.43% and a net margin of 35.68%.The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.15 EPS. EastGroup Properties updated its FY 2026 guidance to 9.460-9.660 EPS.
EastGroup Properties Stock Down 0.4%
Shares of NYSE EGP traded down $0.71 during midday trading on Thursday, hitting $200.16. 87,127 shares of the company’s stock were exchanged, compared to its average volume of 365,957. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01. EastGroup Properties has a twelve month low of $159.18 and a twelve month high of $203.60. The company has a market cap of $10.76 billion, a PE ratio of 41.06, a P/E/G ratio of 3.29 and a beta of 1.09. The firm’s fifty day simple moving average is $191.03 and its 200-day simple moving average is $183.84.
EastGroup Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is 127.31%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on EGP shares. Citigroup lifted their price objective on EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price objective for the company. in a research note on Monday, January 5th. Royal Bank Of Canada lifted their price objective on EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 18th. Evercore set a $188.00 price objective on EastGroup Properties in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus target price of $200.76.
View Our Latest Research Report on EGP
Institutional Investors Weigh In On EastGroup Properties
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Group LLC raised its position in shares of EastGroup Properties by 3.9% during the 4th quarter. Renaissance Group LLC now owns 1,437 shares of the real estate investment trust’s stock worth $256,000 after acquiring an additional 54 shares in the last quarter. Cetera Investment Advisers raised its position in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after acquiring an additional 68 shares in the last quarter. UMB Bank n.a. raised its position in shares of EastGroup Properties by 3.6% during the 4th quarter. UMB Bank n.a. now owns 2,149 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 74 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in EastGroup Properties by 1.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 4,320 shares of the real estate investment trust’s stock worth $770,000 after buying an additional 76 shares during the period. Finally, United Capital Financial Advisors LLC increased its position in EastGroup Properties by 3.6% during the third quarter. United Capital Financial Advisors LLC now owns 2,334 shares of the real estate investment trust’s stock worth $395,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.
About EastGroup Properties
EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.
Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.