EastGroup Properties, Inc. (NYSE:EGP) Receives $182.41 Average Price Target from Analysts

by · The Cerbat Gem

Shares of EastGroup Properties, Inc. (NYSE:EGP – Get Free Report) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $182.41.

Several equities analysts have recently commented on the stock. Evercore ISI lowered their price objective on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Piper Sandler cut their price objective on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. KeyCorp decreased their target price on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Royal Bank of Canada cut their price target on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating on the stock in a report on Monday, May 6th. Finally, Barclays dropped their target price on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th.

Check Out Our Latest Report on EGP

Hedge Funds Weigh In On EastGroup Properties

A number of hedge funds have recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC raised its stake in shares of EastGroup Properties by 24.2% in the first 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. Venturi Wealth Management LLC raised its position in EastGroup Properties by 51.6% in the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in EastGroup Properties by 18.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 72 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of EastGroup Properties by 30.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 80 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of EastGroup Properties by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 19,264 shares of the real estate investment trust’s stock worth $3,208,000 after acquiring an additional 100 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 0.4 %

Shares of EastGroup Properties stock opened at $169.43 on Thursday. The company’s 50 day moving average price is $163.77 and its 200-day moving average price is $173.65. EastGroup Properties has a 52-week low of $154.75 and a 52-week high of $188.85. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 2.65 and a beta of 0.98.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, June 28th. EastGroup Properties’s payout ratio is 110.20%.

EastGroup Properties Company Profile

(Get Free Report

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.

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