Morgan Stanley Issues Positive Forecast for EastGroup Properties (NYSE:EGP) Stock Price

EastGroup Properties (NYSE:EGP - Get Free Report) had its target price upped by stock analysts at Morgan Stanley from $178.00 to $180.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price objective suggests a potential upside of 0.09% from the company's previous close.

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Several other analysts also recently weighed in on EGP. BNP Paribas upgraded EastGroup Properties from a "neutral" rating to an "outperform" rating and set a $207.00 target price for the company in a research note on Monday, October 27th. Royal Bank Of Canada set a $183.00 price objective on EastGroup Properties and gave the company a "sector perform" rating in a research report on Tuesday, October 28th. Industrial Alliance Securities set a $200.00 target price on shares of EastGroup Properties in a research note on Monday, October 27th. Cantor Fitzgerald lifted their price objective on EastGroup Properties from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, October 27th. Finally, BNP Paribas Exane raised shares of EastGroup Properties from a "neutral" rating to an "outperform" rating and set a $207.00 target price on the stock in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $190.93.

Get Our Latest Analysis on EastGroup Properties

EastGroup Properties Stock Performance

EGP stock traded down $0.71 during midday trading on Tuesday, hitting $179.83. 44,772 shares of the company traded hands, compared to its average volume of 406,414. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $188.89. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 3.67 and a beta of 1.04. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $175.32 and a 200-day simple moving average of $170.12.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm had revenue of $182.14 million for the quarter, compared to the consensus estimate of $181.88 million. During the same period in the prior year, the company posted $2.13 earnings per share. EastGroup Properties's quarterly revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS. Q4 2025 guidance at 2.300-2.340 EPS. As a group, equities research analysts predict that EastGroup Properties will post 8.94 earnings per share for the current year.

Insider Activity at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the business's stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president owned 20,630 shares in the company, valued at $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.00% of the company's stock.

Institutional Trading of EastGroup Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of EastGroup Properties during the 2nd quarter worth approximately $252,405,000. Nuveen LLC acquired a new stake in EastGroup Properties during the 1st quarter worth $190,456,000. Principal Financial Group Inc. grew its holdings in EastGroup Properties by 43.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust's stock worth $336,076,000 after acquiring an additional 602,253 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in shares of EastGroup Properties by 1,058.6% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 621,303 shares of the real estate investment trust's stock valued at $109,443,000 after acquiring an additional 567,678 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of EastGroup Properties by 89.5% in the 2nd quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust's stock valued at $155,015,000 after purchasing an additional 438,117 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

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.

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