EastGroup Properties (NYSE:EGP - Get Free Report)'s stock had its "in-line" rating reaffirmed by Evercore ISI in a note issued to investors on Monday. They presently have a $185.00 target price on the real estate investment trust's stock, up from their prior target price of $181.00. Evercore ISI's target price suggests a potential upside of 2.80% from the stock's previous close.
Several other analysts also recently commented on EGP. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price objective on the stock. Robert W. Baird boosted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. 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, KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $190.47.
Read Our Latest Report on EastGroup Properties
EastGroup Properties Stock Up 1.9 %
Shares of EGP stock opened at $179.96 on Monday. EastGroup Properties has a 12 month low of $155.10 and a 12 month high of $192.61. The company has a 50 day simple moving average of $173.46 and a two-hundred day simple moving average of $175.03. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock has a market cap of $9.36 billion, a P/E ratio of 38.70, a P/E/G ratio of 3.35 and a beta of 0.99.
EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts expect that EastGroup Properties will post 8.94 earnings per share for the current year.
Institutional Investors Weigh In On EastGroup Properties
A number of hedge funds and other institutional investors have recently made changes to their positions in EGP. Vanguard Group Inc. boosted its stake in shares of EastGroup Properties by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock worth $1,121,978,000 after acquiring an additional 72,199 shares in the last quarter. Cohen & Steers Inc. raised its stake in shares of EastGroup Properties by 141.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock worth $458,347,000 after buying an additional 1,673,663 shares during the period. State Street Corp lifted its position in shares of EastGroup Properties by 2.1% during the 3rd quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust's stock valued at $456,872,000 after buying an additional 49,268 shares in the last quarter. FMR LLC grew its stake in EastGroup Properties by 1.4% in the 4th quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust's stock valued at $253,496,000 after acquiring an additional 21,432 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in EastGroup Properties by 24.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock worth $226,888,000 after acquiring an additional 273,217 shares in the last quarter. Institutional investors and hedge funds 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.
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