Evercore ISI reaffirmed their in-line rating on shares of EastGroup Properties (NYSE:EGP - Free Report) in a research report sent to investors on Monday morning, Marketbeat.com reports. Evercore ISI currently has a $185.00 price objective on the real estate investment trust's stock, up from their prior price objective of $181.00.
A number of other research firms have also recently weighed in on EGP. Morgan Stanley lowered their price objective on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. KeyCorp reaffirmed a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target on the stock. StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, Robert W. Baird boosted their price target on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $190.47.
Read Our Latest Analysis on EastGroup Properties
EastGroup Properties Stock Performance
NYSE:EGP traded down $2.20 on Monday, hitting $179.36. The stock had a trading volume of 389,191 shares, compared to its average volume of 323,793. 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 stock has a market cap of $9.33 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The business's 50-day simple moving average is $174.32 and its two-hundred day simple moving average is $174.97.
EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, research analysts predict that EastGroup Properties will post 8.94 earnings per share for the current year.
EastGroup Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Monday, March 31st. EastGroup Properties's payout ratio is 120.43%.
Institutional Trading of EastGroup Properties
A number of large investors have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new position in shares of EastGroup Properties during the 4th quarter valued at approximately $29,000. Canton Hathaway LLC bought a new position in shares of EastGroup Properties during the 4th quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 302 shares during the last quarter. Principal Securities Inc. increased its position in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 84 shares during the last quarter. Finally, Versant Capital Management Inc increased its position 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 purchasing an additional 95 shares during the last quarter. Institutional investors own 92.14% of the company's stock.
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.
Recommended Stories
Before you consider EastGroup Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and EastGroup Properties wasn't on the list.
While EastGroup Properties currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
