BTIG analyst Tom Catherwood has maintained their bullish stance on EGP stock, giving a Buy rating today.
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Tom Catherwood’s rating is based on Eastgroup Properties’ strong performance in the fourth quarter of 2024 and its strategic positioning for future growth. The company reported robust leasing and acquisition activities, with 2.8 million square feet of new and renewal leasing, marking its highest quarterly achievement. Moreover, Eastgroup completed $256.9 million in acquisitions, which was its second most active investment quarter, demonstrating its ability to capitalize on market opportunities.
Despite slightly lower than expected 2025 FFO/share guidance, Eastgroup maintains a conservative approach with stable occupancy projections and substantial development plans for the coming year. This includes $300 million in development starts and a focus on maintaining high occupancy levels. These factors, combined with a favorable market environment where REITs have superior access to capital, support the Buy rating as they signal potential for sustained growth and value creation.
In another report released today, BMO Capital also maintained a Buy rating on the stock with a $190.00 price target.