EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $149.77 and last traded at $150.61, with a volume of 46034 shares changing hands. The stock had previously closed at $160.43.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on EGP shares. Robert W. Baird upped their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Truist Financial upgraded EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price objective on the stock in a report on Thursday. Piper Sandler set a $175.00 target price on EastGroup Properties and gave the company a "neutral" rating in a report on Sunday, April 6th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and lifted their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $189.00.
Check Out Our Latest Report on EastGroup Properties
EastGroup Properties Price Performance
The firm has a market cap of $8.06 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. 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 50-day simple moving average of $174.69 and a 200 day simple moving average of $172.22.
EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results 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 net margin of 35.57% and a return on equity of 7.89%. As a group, equities analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.
EastGroup Properties Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.61%. EastGroup Properties's payout ratio is presently 120.43%.
Hedge Funds Weigh In On EastGroup Properties
Hedge funds have recently bought and sold shares of the company. Crowley Wealth Management Inc. bought a new position in shares of EastGroup Properties in the fourth quarter worth approximately $29,000. Canton Hathaway LLC purchased a new position in EastGroup Properties in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in EastGroup Properties by 503.3% in 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 acquiring an additional 302 shares in the last quarter. Parallel Advisors LLC boosted its stake in EastGroup Properties by 387.4% during the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 337 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in 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. Institutional investors own 92.14% of the company's stock.
About EastGroup Properties
(
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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