Research
JPMorgan Upgrades EastGroup Properties to Overweight From Neutral, Price Target is $231
EastGroup Properties (EGP) has an average rating of overweight and mean price target of $227.90, according to analysts polled by FactSet.
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Wire
Truist Securities Adjusts Price Target on EastGroup Properties to $230 From $215, Maintains Buy Rating
EastGroup Properties (EGP) has an average rating of overweight and mean price target of $226.26, according to analysts polled by FactSet.Price: $212.56, Change: $-0.73, Percent Change: -0.34%
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Research
Research Alert: CFRA Maintains Buy Opinion On Shares Of Eastgroup Properties Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target by $15 to $230, on a forward P/FFO of 23.6x 2026 FFO view, a slight premium to industrial peers given expected strength in re-leasing rates and shallow bay property focus. We increase our 2026 FFO estimate by $0.06 to $9.76 and increase 2027's by $0.24 to $10.54. We now see a significant new opportunity for EGP as data center suppliers were responsible for half of Q1 development YTD. Management sees this demand driving up rents for core portfolio properties from these suppliers providing HVAC, racking, and servicing to data center development. Partially due to this new end-market demand, leasing YTD has already reached 54% of the FY 25 total causing EGP to increase development start guidance by $15 million. We believe EGP has significant capital to acquire vacant properties and leverage its tenant base and leasing expertise to achieve near development level yields on properties without taking on construction risks. We maintain our Buy rating.
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Research
Research Alert: Eastgroup Properties Reports In-line Q1, Rental Growth Slows For New Leases
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:EGP reported Q1 revenue of $190M, representing a solid 9.1% Y/Y increase from $174M in the prior-year period and meeting consensus expectations for the quarter. Cash same property NOI (excluding lease terminations) grew 7.5% to $133M, though this represented a deceleration from the stronger 8.4% growth rate achieved in the previous Q4, with the increase primarily due to strong cash rental growth on new lease signings across the portfolio. The company demonstrated robust leasing momentum, with cash rental rates on new leases signed during Q1 advancing 20.3% compared to the prior year across a total of 69 leases, comprising 22 new leases and 47 renewals that collectively encompassed 2.04M square feet of leased space. Management provided updated guidance for same property NOI growth of 5.7%-6.7% for full-year 2026, representing a 10-bp sequential improvement from the previous quarter's guidance outlook.
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