Wall Street Analyst Initiated EastGroup Properties Inc. [EGP]. What else is Wall St. saying

EastGroup Properties Inc. [NYSE: EGP] loss -1.02% on the last trading session, reaching $163.70 price per share at the time. The company report on August 26, 2022 that EastGroup Properties Announces Dividend Increase.


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EastGroup Properties (NYSE: EGP) (the “Company”, “EastGroup”) announced today that its Board of Directors approved a 13.6% increase in its quarterly dividend, raising it to $1.25 per share from $1.10 per share.  The dividend is payable on October 14, 2022 to shareholders of record of Common Stock on September 30, 2022.  This dividend is the 171st consecutive quarterly cash distribution to EastGroup’s shareholders and represents an annualized dividend rate of $5.00 per share.  EastGroup has increased or maintained its dividend for 30 consecutive years.  The Company has increased it 27 years over that period, including increases in each of the last 11 years.

EastGroup Properties, Inc. (NYSE: EGP), a member of the S&P MidCap 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. The Company’s goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 15,000 to 70,000 square foot range). The Company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup’s portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 55 million square feet.

EastGroup Properties Inc. represents 42.21 million in outstanding shares, while the company has a total market value of $7.29 billion with the latest information. EGP stock price has been found in the range of $162.80 to $167.495.

If compared to the average trading volume of 325.26K shares, EGP reached a trading volume of 283641 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about EastGroup Properties Inc. [EGP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EGP shares is $188.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EGP stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for EastGroup Properties Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 20, 2021. While these analysts kept the previous recommendation, Mizuho raised their target price to Neutral. The new note on the price target was released on July 14, 2021, representing the official price target for EastGroup Properties Inc. stock. Previously, the target price had yet another raise to $158, while BTIG Research analysts kept a Buy rating on EGP stock.

The Average True Range (ATR) for EastGroup Properties Inc. is set at 3.39, with the Price to Sales ratio for EGP stock in the period of the last 12 months amounting to 16.43. The Price to Book ratio for the last quarter was 3.48, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for EGP in the course of the last twelve months was 71.72.

Trading performance analysis for EGP stock

EastGroup Properties Inc. [EGP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.81. With this latest performance, EGP shares dropped by -3.62% in over the last four-week period, additionally sinking by -15.78% over the last 6 months – not to mention a drop of -10.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EGP stock in for the last two-week period is set at 39.16, with the RSI for the last a single of trading hit 31.20, and the three-weeks RSI is set at 43.72 for EastGroup Properties Inc. [EGP]. The present Moving Average for the last 50 days of trading for this stock 165.26, while it was recorded at 165.41 for the last single week of trading, and 186.10 for the last 200 days.

EastGroup Properties Inc. [EGP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and EastGroup Properties Inc. [EGP] shares currently have an operating margin of +36.89 and a Gross Margin at +40.79. EastGroup Properties Inc.’s Net Margin is presently recorded at +38.52.

Return on Equity for this stock inclined to 11.10, with Return on Assets sitting at 5.31.

EastGroup Properties Inc. [EGP]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EGP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for EastGroup Properties Inc. go to 7.70%.

An analysis of insider ownership at EastGroup Properties Inc. [EGP]

There are presently around $6,457 million, or 95.60% of EGP stock, in the hands of institutional investors. The top three institutional holders of EGP stocks are: VANGUARD GROUP INC with ownership of 6,095,902, which is approximately -1.233% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 4,975,992 shares of the stock with an approximate value of $814.57 million in EGP stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $485.3 million in EGP stock with ownership of nearly 7.905% of the company’s market capitalization.

Positions in EastGroup Properties Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 188 institutional holders increased their position in EastGroup Properties Inc. [NYSE:EGP] by around 4,314,901 shares. Additionally, 165 investors decreased positions by around 3,594,991 shares, while 63 investors held positions by with 31,535,302 shares. The mentioned changes placed institutional holdings at 39,445,194 shares, according to the latest SEC report filing. EGP stock had 56 new institutional investments in for a total of 458,569 shares, while 47 institutional investors sold positions of 346,198 shares during the same period.

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