EastGroup Properties (NYSE:EGP) Earns In-Line Rating from Evercore ISI

Evercore ISI restated their in-line rating on shares of EastGroup Properties (NYSE:EGP - Free Report) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm currently has a $185.00 price target on the real estate investment trust's stock, up from their prior price target of $181.00.

Other equities analysts have also recently issued research reports about the stock. Raymond James upgraded shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a "buy" rating and a $180.00 target price on the stock. Robert W. Baird raised their target price on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Truist Financial upped their price target on EastGroup Properties from $168.00 to $180.00 and gave the stock a "hold" rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and raised their price objective for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $190.47.

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EastGroup Properties Trading Down 0.2 %

EGP traded down $0.30 during midday trading on Monday, reaching $179.32. 243,727 shares of the company's stock traded hands, compared to its average volume of 323,754. EastGroup Properties has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a fifty day moving average of $174.32 and a two-hundred day moving average of $174.97. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS 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%. On average, equities analysts anticipate that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.12%. EastGroup Properties's dividend payout ratio (DPR) is presently 120.43%.

Hedge Funds Weigh In On EastGroup Properties

A number of hedge funds have recently bought and sold shares of EGP. Cohen & Steers Inc. raised its holdings in shares of EastGroup Properties by 141.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock valued at $458,347,000 after purchasing an additional 1,673,663 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of EastGroup Properties in the 4th quarter worth $116,756,000. FMR LLC grew its holdings in shares of EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock worth $291,081,000 after acquiring an additional 629,827 shares during the period. Norges Bank purchased a new stake in EastGroup Properties during the fourth quarter valued at $100,579,000. Finally, Daiwa Securities Group Inc. lifted its holdings in EastGroup Properties by 210.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust's stock valued at $113,584,000 after acquiring an additional 479,873 shares during the period. 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.