EastGroup Properties, Inc. (NYSE:EGP) Receives Average Rating of “Moderate Buy” from Analysts

EastGroup Properties, Inc. (NYSE:EGP) has earned a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $191.65.

A number of brokerages recently issued reports on EGP. Raymond James upgraded shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Robert W. Baird upped their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial raised their price objective on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th.

Institutional Trading of EastGroup Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc grew its holdings in shares of EastGroup Properties by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 72 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in EastGroup Properties by 7.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares during the last quarter. Finally, waypoint wealth counsel lifted its stake in EastGroup Properties by 1.9% in the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Up 1.0 %

EastGroup Properties stock opened at $184.65 on Tuesday. EastGroup Properties has a 52-week low of $155.10 and a 52-week high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 3.35 and a beta of 1.00. The firm has a 50-day moving average price of $169.58 and a two-hundred day moving average price of $175.17.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Sell-side analysts expect that EastGroup Properties will post 8.94 earnings per share for the current year.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 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.