Brokerages Set EastGroup Properties, Inc. (NYSE:EGP) Price Target at $191.21

EastGroup Properties, Inc. (NYSE:EGP) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $191.21.

EGP has been the subject of several research reports. Evercore ISI lifted their price objective on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company lowered their price objective on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $209.00 price objective on shares of EastGroup Properties in a research note on Friday, October 25th. KeyCorp boosted their target price on shares of EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley boosted their target price on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd.

EastGroup Properties Price Performance

NYSE EGP opened at $172.14 on Friday. EastGroup Properties has a 12-month low of $155.23 and a 12-month high of $192.61. The firm’s fifty day simple moving average is $178.80 and its two-hundred day simple moving average is $177.14. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $8.52 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The company had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. During the same quarter in the previous year, the firm posted $1.95 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts forecast that EastGroup Properties will post 8.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGP. Gradient Investments LLC purchased a new position in EastGroup Properties in the second quarter valued at $32,000. V Square Quantitative Management LLC increased its stake in shares of EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 61 shares in the last quarter. Quest Partners LLC increased its stake in shares of EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of EastGroup Properties by 30.2% during the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 80 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of EastGroup Properties during the second quarter worth about $66,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Company Profile

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.