EastGroup Properties, Inc. (NYSE:EGP) Receives $186.85 Average PT from Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has earned an average rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $186.79.

EGP has been the topic of several research reports. KeyCorp boosted their price objective 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. Truist Financial upped their price objective on EastGroup Properties from $176.00 to $190.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Robert W. Baird decreased their price objective on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. BNP Paribas assumed coverage on EastGroup Properties in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $167.00 target price on the stock. Finally, Barclays raised their price target on shares of EastGroup Properties from $175.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th.

EastGroup Properties Stock Up 0.5 %

NYSE:EGP opened at $185.64 on Friday. EastGroup Properties has a 1 year low of $154.75 and a 1 year high of $192.61. The stock has a 50-day moving average price of $178.48 and a two-hundred day moving average price of $173.92. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 2.93 and a beta of 0.98. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.60.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.91). EastGroup Properties had a net margin of 37.16% and a return on equity of 8.69%. The business had revenue of $159.09 million during the quarter, compared to analyst estimates of $156.70 million. During the same quarter in the prior year, the firm posted $1.89 earnings per share. EastGroup Properties’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities analysts expect that EastGroup Properties will post 8.3 earnings per share for the current year.

Institutional Trading of EastGroup Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC increased its stake in shares of EastGroup Properties by 24.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 334 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EastGroup Properties by 30.2% in the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 80 shares during the last quarter. Securian Asset Management Inc. boosted its stake in shares of EastGroup Properties by 2.6% during the 4th quarter. Securian Asset Management Inc. now owns 3,945 shares of the real estate investment trust’s stock worth $724,000 after acquiring an additional 100 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of EastGroup Properties by 0.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 31,093 shares of the real estate investment trust’s stock worth $5,328,000 after acquiring an additional 103 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in EastGroup Properties by 4.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 2,730 shares of the real estate investment trust’s stock valued at $491,000 after purchasing an additional 124 shares during the last quarter. 92.14% of the stock is owned by institutional investors.

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.