EastGroup Properties (NYSE:EGP) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties (NYSE:EGP - Free Report) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $180.00 price target on the real estate investment trust's stock.

Several other brokerages have also commented on EGP. Raymond James upgraded shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Truist Financial lowered their target price on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. Evercore ISI increased their target price on shares of EastGroup Properties from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, October 7th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and boosted their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Finally, StockNews.com downgraded EastGroup Properties from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $190.88.

EastGroup Properties Stock Performance

Shares of NYSE:EGP traded up $4.05 during midday trading on Tuesday, hitting $162.47. The stock had a trading volume of 465,419 shares, compared to its average volume of 358,965. EastGroup Properties has a 1 year low of $155.10 and a 1 year high of $192.61. 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 stock has a 50 day moving average price of $167.42 and a two-hundred day moving average price of $177.11. The company has a market capitalization of $8.04 billion, a PE ratio of 33.57, a P/E/G ratio of 2.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). The business had revenue of $162.88 million during the quarter, compared to analysts' expectations of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. EastGroup Properties's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 EPS. As a group, equities analysts predict that EastGroup Properties will post 8.35 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 31st. EastGroup Properties's payout ratio is 115.70%.

Hedge Funds Weigh In On EastGroup Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cerity Partners LLC lifted its stake in shares of EastGroup Properties by 35.6% in the 3rd quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust's stock valued at $2,545,000 after purchasing an additional 3,574 shares in the last quarter. Ausbil Investment Management Ltd lifted its position in EastGroup Properties by 261.6% during the third quarter. Ausbil Investment Management Ltd now owns 6,737 shares of the real estate investment trust's stock valued at $1,259,000 after buying an additional 4,874 shares in the last quarter. Franklin Resources Inc. grew its stake in EastGroup Properties by 337.0% during the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock worth $8,728,000 after buying an additional 37,863 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of EastGroup Properties in the third quarter worth $1,223,000. Finally, Creative Planning raised its stake in shares of EastGroup Properties by 4.8% in the 3rd quarter. Creative Planning now owns 2,555 shares of the real estate investment trust's stock valued at $477,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds 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.