EastGroup Properties (NYSE:EGP) Given Sector Weight Rating at KeyCorp

EastGroup Properties (NYSE:EGP - Get Free Report)'s stock had its "sector weight" rating reissued by research analysts at KeyCorp in a report released on Tuesday, Marketbeat Ratings reports.

Several other research analysts also recently issued reports on EGP. Truist Financial dropped their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Wedbush reaffirmed an "outperform" rating and issued a $209.00 price target on shares of EastGroup Properties in a research note on Friday, October 25th. Barclays lowered their target price on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 10th. StockNews.com downgraded shares of EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Finally, Mizuho upgraded EastGroup Properties from a "neutral" rating to an "outperform" rating and upped their target price for the company from $175.00 to $200.00 in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $191.80.

EastGroup Properties Price Performance

EGP traded down $1.98 during trading on Tuesday, hitting $167.72. The company's stock had a trading volume of 246,456 shares, compared to its average volume of 301,988. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.22 and a beta of 0.99. EastGroup Properties has a twelve month low of $155.23 and a twelve month high of $192.61. The business's fifty day simple moving average is $174.07 and its 200 day simple moving average is $177.97. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm had revenue of $162.88 million during the quarter, compared to analysts' expectations of $161.52 million. During the same period in the previous year, the firm posted $1.95 earnings per share. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that EastGroup Properties will post 8.36 EPS for the current fiscal year.

Institutional Trading of EastGroup Properties

Several large investors have recently bought and sold shares of EGP. FMR LLC grew its holdings in EastGroup Properties by 67.9% during the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in EastGroup Properties by 355.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust's stock valued at $73,158,000 after buying an additional 305,555 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of EastGroup Properties in the second quarter worth about $35,131,000. Millennium Management LLC boosted its holdings in EastGroup Properties by 202.1% in the second quarter. Millennium Management LLC now owns 188,336 shares of the real estate investment trust's stock valued at $32,036,000 after acquiring an additional 125,991 shares in the last quarter. Finally, Vision Capital Corp purchased a new position in shares of EastGroup Properties in the 3rd quarter worth about $18,308,000. 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.