Mizuho analyst Vikram Malhotra upgraded EastGroup Properties to Outperform from Neutral with a price target of $200, up from $175. The Industrial real estate investment trust narrative has recently turned net positive, as many investors believe the worst is behind the sector, the analyst tells investors in a research note. The firm says the numbers tell a different story – that core growth will keep slowing. It believes a lower “new normal” of core earnings growth in fiscal 2026 is underappreciated. While EastGroup appears to be a consensus long, several factors are underappreciated, contends Mizuho. It believes the company’s sub-market rent growth likely above expectations and Street FFO numbers should move higher.
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