Dernières nouvelles pour EastGroup Props (NYSE:EGP) Stock

EastGroup Props

EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the development, acquisition, and operation of industrial properties in Sunbelt markets throughout the United States, predominantly in the states of Florida, Texas, Arizona, California, and North Carolina. The company manages a portfolio of industrial properties. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. The company derives its revenue in the form of rental income.

EastGroup Properties

EastGroup Properties Inc

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EGPI FIRECREEK INC by EGPI Firecreek, Inc.

Egpi Firecreek Inc

Barclays analyst Brendan Lynch maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Equal-Weight and lowers the price target from $198 to $193.

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Barclays Maintains Equal-Weight on EastGroup Props, Lowers Price Target to $193

EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) has been analyzed by 12 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $199.17, a high estimate of $214.00, and a low estimate of $186.00. This upward trend is evident, with the current average reflecting a 10.29% increase from the previous average price target of $180.58.
<img src="https://www.benzinga.com/files/images/story/2024/1728320421_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive EastGroup Props. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$205.00</td>
<td>$204.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$204.00</td>
<td>$192.00</td>
</tr>
<tr>
<td>Vikram Malhotra</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$200.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$192.00</td>
<td>$188.00</td>
</tr>
<tr>
<td>Blaine Heck</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$214.00</td>
<td>$179.00</td>
</tr>
<tr>
<td>Stephen Byrd</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$186.00</td>
<td>$158.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$209.00</td>
<td>$208.00</td>
</tr>
<tr>
<td>Ki Bin Kim</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$190.00</td>
<td>$176.00</td>
</tr>
<tr>
<td>Todd Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$198.00</td>
<td>$178.00</td>
</tr>
<tr>
<td>Michael Carroll</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$186.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$198.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$208.00</td>
<td>$162.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to EastGroup Props. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of EastGroup Props compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of EastGroup Props's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of EastGroup Props's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/EGP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EastGroup Props analyst ratings.</a>
<h2>Unveiling the Story Behind EastGroup Props</h2>
EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the development, acquisition, and operation of industrial properties in Sunbelt markets throughout the United States, predominantly in the states of Florida, Texas, Arizona, California, and North Carolina. The company manages a portfolio of industrial properties. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. The company derives its revenue in the form of rental income.
<h3>EastGroup Props's Financial Performance</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: EastGroup Props's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 13.73%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 34.75%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): EastGroup Props's ROE excels beyond industry benchmarks, reaching 2.04%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): EastGroup Props's ROA excels beyond industry benchmarks, reaching 1.19%. This signifies efficient management of assets and strong financial health.
Debt Management: EastGroup Props's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.61.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

EastGroup Props Stock: A Deep Dive Into Analyst Perspectives (12 Ratings)

Evercore ISI Group analyst Steve Sakwa maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Outperform and raises the price target from $204 to $205.

Evercore ISI Group Maintains Outperform on EastGroup Props, Raises Price Target to $205

Revealing a significant insider sell on September 16, Richard Reid Dunbar, Senior Vice President at EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>), as per the latest SEC filing.
What Happened: Dunbar opted to sell 1,650 shares of EastGroup Props, according to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000049600/000004960024000096//Archives/edgar/data/49600/000004960024000096/0000049600-24-000096-index.htm">U.S. Securities and Exchange Commission</a> on Monday. The transaction's total worth stands at $303,589.
EastGroup Props's shares are actively trading at $190.26, experiencing a down of 0.0% during Tuesday's morning session.
<h3>Delving into EastGroup Props's Background</h3>
EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the development, acquisition, and operation of industrial properties in Sunbelt markets throughout the United States, predominantly in the states of Florida, Texas, Arizona, California, and North Carolina. The company manages a portfolio of industrial properties. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. The company derives its revenue in the form of rental income.
<h3>EastGroup Props: Financial Performance Dissected</h3>
Revenue Growth: EastGroup Props's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 13.73%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector.
Key Insights into Profitability Metrics:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 72.44%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): EastGroup Props's EPS outshines the industry average, indicating a strong bottom-line trend with a current EPS of 1.15.
</li>
</ul>
Debt Management: With a below-average debt-to-equity ratio of 0.61, EastGroup Props adopts a prudent financial strategy, indicating a balanced approach to debt management.
Analyzing Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 39.64 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 14.77 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio of 24.59, the company's market valuation exceeds industry averages.
</li>
</ul>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
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<h3>Exploring the Significance of Insider Trading</h3>
Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
Examining transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000049600">Check Out The Full List Of EastGroup Props's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Senior Vice President Of EastGroup Props Makes $303K Sale

Across the recent three months, 11 analysts have shared their insights on EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>), expressing a variety of opinions spanning from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for EastGroup Props, revealing an average target of $198.64, a high estimate of $214.00, and a low estimate of $186.00. Observing a 11.31% increase, the current average has risen from the previous average price target of $178.45. 
<img src="https://www.benzinga.com/files/images/story/2024/1726488097_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A comprehensive examination of how financial experts perceive EastGroup Props is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$204.00</td>
<td>$192.00</td>
</tr>
<tr>
<td>Vikram Malhotra</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$200.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$192.00</td>
<td>$188.00</td>
</tr>
<tr>
<td>Blaine Heck</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$214.00</td>
<td>$179.00</td>
</tr>
<tr>
<td>Stephen Byrd</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$186.00</td>
<td>$158.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$209.00</td>
<td>$208.00</td>
</tr>
<tr>
<td>Ki Bin Kim</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$190.00</td>
<td>$176.00</td>
</tr>
<tr>
<td>Todd Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$198.00</td>
<td>$178.00</td>
</tr>
<tr>
<td>Michael Carroll</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$186.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$198.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$208.00</td>
<td>$162.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to EastGroup Props. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of EastGroup Props compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for EastGroup Props's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of EastGroup Props's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/EGP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EastGroup Props analyst ratings.</a>
<h2>Get to Know EastGroup Props Better</h2>
EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the development, acquisition, and operation of industrial properties in Sunbelt markets throughout the United States, predominantly in the states of Florida, Texas, Arizona, California, and North Carolina. The company manages a portfolio of industrial properties. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. The company derives its revenue in the form of rental income.
<h3>Financial Insights: EastGroup Props</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: EastGroup Props's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 13.73%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Real Estate sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 34.75%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): EastGroup Props's ROE excels beyond industry benchmarks, reaching 2.04%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): EastGroup Props's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.19%, the company showcases efficient use of assets and strong financial health.
Debt Management: EastGroup Props's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.61.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Closer Look at 11 Analyst Recommendations For EastGroup Props

Evercore ISI Group analyst Steve Sakwa upgrades EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) from In-Line to Outperform and raises the price target from $192 to $204.

Upgrades

Evercore ISI Group Upgrades EastGroup Props to Outperform, Raises Price Target to $204

Mizuho analyst Vikram Malhotra upgrades EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) from Neutral to Outperform and raises the price target from $175 to $200.

Mizuho Upgrades EastGroup Props to Outperform, Raises Price Target to $200

EastGroup Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egp#NYSE">EGP</a>) announced a hike of 10.2% in its quarterly dividend, raising it to $1.40 per share from $1.27 paid earlier. The increased dividend will be paid out on Oct. 15 to shareholders on record as of Sep. 30, 2024.
Based on the increase, the annual dividend rate now comes to $5.60 a share, resulting in an annualized yield of 2.99%, considering EastGroup&#39;s closing price of $187 on Aug. 26.
Solid dividend payouts remain the biggest enticements for REIT investors, and EastGroup Properties is committed to boosting shareholder wealth. The company has hiked its dividend in each of the last 13 years. The recent dividend hike marks its 179th consecutive quarterly distribution to shareholders. Further, EGP increased or maintained its dividend for 32 consecutive years and hiked it for 29 years during this period.
In the last five years, EastGroup has increased its dividend seven times, and the annualized dividend growth rate for this period is 15.88%. This is attractive to income investors and represents a steady income stream.
<h2>EGP&#39;s Stock Fundamentals &amp; Financial Performance</h2>
This industrial REIT focuses on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States. With its focus on the ownership of premier distribution facilities usually clustered near major transportation features in supply-constrained submarkets, EastGroup has a well-leased industrial portfolio.
The company&#39;s operating portfolio was 97.4% leased and 97.1% occupied as of June 30, 2024. Also, the average occupancy of the operating portfolio was 97.0% for the second quarter of 2024.
EastGroup has a decent earnings performance. It beat the Zacks Consensus Estimate in two of the trailing four quarters, matched on one occasion and missed on the remaining quarter on funds from operations (FFO) per share basis, the average surprise being 0.14%. Over the next five years, the company&#39;s FFO per share is projected to grow at a rate of 8.0%.
This industrial REIT churns a cash flow of $8.02 per share compared with the industry&#39;s average of $1.69. Moreover, EastGroup Properties&#39; return on equity (&quot;ROE&quot;) is 8.69%, significantly higher than the industry&#39;s ROE of 3.26%.
<h2>Industrial REIT Outlook</h2>
Amid an e-commerce boom, companies are making efforts to improve supply-chain efficiencies, propelling demand for logistics infrastructure and efficient distribution networks. This is aiding the industrial real estate market to prosper.
Apart from the fast adoption of e-commerce, industrial real estate space is anticipated to gain traction over the long run from a likely rise in the inventory levels. Given EGP&#39;s solid capacity to offer modern logistics facilities, it is well-poised to bank on this trend.
<h2>EGP&#39;s Conclusion</h2>
Particularly for EastGroup, we believe such distribution activity highlights the company&#39;s operational strength and commitment to rewarding its shareholders handsomely.
The latest hike reflects EastGroup&#39;s high-quality portfolio and its ability to generate solid cash flow growth through its operating platform.
Investors are always on the lookout for companies with a track record of consistent and incremental dividend payments to put their money on. Such moves will boost investors&#39; confidence in the stock.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have rallied 17.3% compared with the industry&#39;s growth of 19.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/eb/75601.jpg?v=55315687" /> 
Image Source: Zacks Investment Research
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the broader REIT sector are Cousins Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) and Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>), each carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Cousins Properties&#39; 2024 FFO per share has moved marginally northward over the past month to $2.66.
The Zacks Consensus Estimate for Lamar Advertising&#39;s current-year FFO per share has been marginally raised over the past month to $8.09.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2327882/eastgroup-announces-a-10-2-dividend-hike-is-this-hike-sustainable?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2327882">To read this article on Zacks.com click here.</a>

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EastGroup Announces a 10.2% Dividend Hike: Is This Hike Sustainable?

Evercore ISI Group analyst Steve Sakwa maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a In-Line and raises the price target from $188 to $192.

Evercore ISI Group Maintains In-Line on EastGroup Props, Raises Price Target to $192

Wells Fargo analyst Blaine Heck upgrades EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) from Equal-Weight to Overweight and raises the price target from $179 to $214.

Wells Fargo Upgrades EastGroup Props to Overweight, Raises Price Target to $214

Marks 179th Consecutive Dividend And 13th Consecutive Year Of Increases

EastGroup Properties Announces 10.2% Increase In Quarterly Dividend From $1.27 To $1.40 Per Share, Payable October 15, 2024

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Evercore ISI Group raised the price target for Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) from $78 to $80. Evercore ISI Group analyst Greg Melich maintained an Outperform rating. Walmart shares gained 0.9% to close at $75.24 on Wednesday. <a href="https://www.benzinga.com/quote/WMT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Oppenheimer raised the price target for Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) from $157 to $168. Oppenheimer analyst Tyler Batory maintained an Outperform rating. Toll Brothers shares gained 5.6% to close at $141.03 on Wednesday. <a href="https://www.benzinga.com/quote/tol/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised EastGroup Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) price target from $158 to $186. Morgan Stanley analyst Stephen Byrd maintained an Equal-Weight rating. EastGroup Properties shares gained 0.8% to close at $184.67 on Wednesday. <a href="https://www.benzinga.com/quote/EGP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo boosted the price target for SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) from $19 to $29. Wells Fargo analyst Andrew Nowinski upgraded the stock from Equal-Weight to Overweight. SentinelOne shares gained 2.3% to close at $24.56 on Wednesday. <a href="https://www.benzinga.com/quote/S/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. lowered Cocrystal Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COCP#NASDAQ">COCP</a>) price target from $10 to $7. HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintained a Buy rating. Cocrystal Pharma shares closed at $1.91 on Wednesday. <a href="https://www.benzinga.com/quote/COCP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup raised The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) price target from $110 to $128. Citigroup analyst Paul Lejuez downgraded the stock from Buy to Neutral. TJX shares gained 6.1% to close at $120.23 on Wednesday.<a href="https://www.benzinga.com/quote/TJX/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>BMO Capital decreased the price target for Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) from $42 to $39. BMO Capital analyst Simeon Siegel maintained a Market Perform rating. Urban Outfitters shares gained 3.1% to close at $41.48 on Wednesday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) price target from $165 to $152. Baird analyst William Power maintained an Outperform rating. Snowflake shares gained 2.4% to close at $135.06 on Wednesday. <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Telsey Advisory Group cut Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) price target from $21 to $17. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating. Macy&#8217;s shares fell 12.9% to close at $15.45 on Wednesday. <a href="https://www.benzinga.com/quote/M/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird slashed Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) price target from $84 to $77. Baird analyst William Power maintained an Outperform rating. Zoom Video shares gained 1.9% to close at $60.23 on Wednesday. <a href="https://www.benzinga.com/quote/ZM/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40501259/s-p-500-nasdaq-surge-after-fed-minutes-point-to-likely-rate-cut-in-september-fear-greed-index-remai">S&amp;P 500, Nasdaq Surge After Fed Minutes Point To Likely Rate Cut In September: Fear &amp; Greed Index Remains In &#8216;Neutral&#8217; Zone</a></li>
</ul>

Pre-Market Outlook

COCP

SNOW

URBN

Toll Brothers To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Thursday

8 analysts have shared their evaluations of EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $193.75, a high estimate of $209.00, and a low estimate of $175.00. This upward trend is evident, with the current average reflecting a 9.62% increase from the previous average price target of $176.75.
<img src="https://www.benzinga.com/files/images/story/2024/1724331626_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The analysis of recent analyst actions sheds light on the perception of EastGroup Props by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Stephen Byrd</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$186.00</td>
<td>$158.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$209.00</td>
<td>$208.00</td>
</tr>
<tr>
<td>Ki Bin Kim</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$190.00</td>
<td>$176.00</td>
</tr>
<tr>
<td>Todd Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$198.00</td>
<td>$178.00</td>
</tr>
<tr>
<td>Michael Carroll</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$186.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$198.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Richard Anderson</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$208.00</td>
<td>$162.00</td>
</tr>
<tr>
<td>Vikram Malhotra</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$175.00</td>
<td>$185.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to EastGroup Props. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of EastGroup Props compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for EastGroup Props's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of EastGroup Props's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/EGP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EastGroup Props analyst ratings.</a>
<h2>About EastGroup Props</h2>
EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the development, acquisition, and operation of industrial properties in Sunbelt markets throughout the United States, predominantly in the states of Florida, Texas, Arizona, California, and North Carolina. The company manages a portfolio of industrial properties. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. The company derives its revenue in the form of rental income.
<h3>Financial Insights: EastGroup Props</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: EastGroup Props displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 13.73%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: EastGroup Props's net margin is impressive, surpassing industry averages. With a net margin of 34.75%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): EastGroup Props's ROE stands out, surpassing industry averages. With an impressive ROE of 2.04%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): EastGroup Props's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.19% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: EastGroup Props's debt-to-equity ratio is below the industry average at 0.61, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 8 Ratings For EastGroup Props

Morgan Stanley analyst Stephen Byrd maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Equal-Weight and raises the price target from $158 to $186.

Morgan Stanley Maintains Equal-Weight on EastGroup Props, Raises Price Target to $186

Wedbush analyst Richard Anderson maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Outperform and raises the price target from $208 to $209.

Wedbush Maintains Outperform on EastGroup Props, Raises Price Target to $209

Truist Securities analyst Ki Bin Kim maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Hold and raises the price target from $176 to $190.

Truist Securities Maintains Hold on EastGroup Props, Raises Price Target to $190

Keybanc analyst Todd Thomas maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Overweight and raises the price target from $178 to $198.

Keybanc Maintains Overweight on EastGroup Props, Raises Price Target to $198

RBC Capital analyst Michael Carroll maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Sector Perform and raises the price target from $172 to $186.

RBC Capital Maintains Sector Perform on EastGroup Props, Raises Price Target to $186

Barclays analyst Brendan Lynch maintains EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) with a Equal-Weight and raises the price target from $175 to $198.

Barclays Maintains Equal-Weight on EastGroup Props, Raises Price Target to $198

EastGroup Properties Q2 FFO Excluding Gain on Involuntary Conversion and Business Interruption Claims $2.05, Up From $1.89 YoY

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In a report released today, Brendan Lynch from Barclays maintained a Hold rating on Eastgroup Properties (EGP – Research Report), with a price targ...

Barclays Remains a Hold on Eastgroup Properties (EGP)

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Press Releases

EastGroup Properties Announces First Quarter 2024 Earnings Conference Call and Webcast

EastGroup Properties Announces First Quarter 2024 Results

EastGroup Properties Announces 178th Consecutive Quarterly Cash Dividend

EastGroup Properties Announces Recent Business Activity and Presentation at Nareit's REITweek

EastGroup Properties Announces Second Quarter 2024 Earnings Conference Call and Webcast

EastGroup Properties Announces Second Quarter 2024 Results

EastGroup Properties Announces Dividend Increase

EastGroup Properties Announces Recent Business Activity and Participation in Upcoming Conferences

EastGroup Properties Announces Third Quarter 2024 Earnings Conference Call and Webcast

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