EastGroup Properties (NYSE:EGP) Announces Quarterly Earnings Results, Beats Estimates By $0.99 EPS

EastGroup Properties (NYSE:EGP) issued its quarterly earnings data on Thursday. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99, Zacks reports. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. 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 Trading Up 0.7 %

Shares of NYSE EGP traded up $1.28 during midday trading on Thursday, reaching $173.28. The company had a trading volume of 426,188 shares, compared to its average volume of 377,937. The firm’s fifty day moving average price is $165.55 and its 200-day moving average price is $175.88. The stock has a market cap of $8.58 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 3.16 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 one year low of $155.10 and a one year high of $192.61.

EastGroup Properties Dividend Announcement

The company 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s payout ratio is currently 115.70%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EGP. Truist Financial lowered their price objective on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Jefferies Financial Group upgraded EastGroup Properties from a “hold” rating to a “buy” rating and boosted their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. StockNews.com lowered EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.