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

EastGroup Properties (NYSE:EGP) released its earnings results on Thursday. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99, Zacks reports. EastGroup Properties had a return on equity of 8.27% and a net margin of 35.57%. 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 Up 0.8 %

EGP opened at $174.79 on Friday. EastGroup Properties has a 1-year low of $155.10 and a 1-year high of $192.61. The business has a 50 day moving average of $165.59 and a 200-day moving average of $175.75. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 37.59, a P/E/G ratio of 3.23 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.20%. EastGroup Properties’s dividend payout ratio is 120.43%.

Analyst Ratings Changes

A number of research firms have issued reports on EGP. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $186.00 price objective on shares of EastGroup Properties in a research report on Wednesday, October 30th. Morgan Stanley dropped their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Finally, StockNews.com cut shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.88.

EastGroup Properties Company Profile

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.