EastGroup Properties (NYSE:EGP) Given New $180.00 Price Target at Truist Financial

EastGroup Properties (NYSE:EGP - Free Report) had its target price hoisted by Truist Financial from $168.00 to $180.00 in a research report report published on Friday morning,Benzinga reports. They currently have a hold rating on the real estate investment trust's stock.

A number of other equities research analysts have also commented on the company. Wells Fargo & Company dropped their target price on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $186.00 price objective on shares of EastGroup Properties in a report on Wednesday, October 30th. Wedbush restated an "outperform" rating and issued a $209.00 price objective on shares of EastGroup Properties in a research report on Friday, October 25th. Morgan Stanley cut their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Finally, StockNews.com upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $190.53.

EastGroup Properties Price Performance

NYSE:EGP remained flat at $179.61 during mid-day trading on Friday. 518,567 shares of the company traded hands, compared to its average volume of 434,609. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties has a one year low of $155.10 and a one year high of $192.61. The stock has a market cap of $8.89 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.00. The stock has a 50 day moving average price of $166.83 and a 200 day moving average price of $175.20.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 8.27% and a net margin of 35.57%. As a group, research analysts predict that EastGroup Properties will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, December 31st. EastGroup Properties's payout ratio is presently 120.43%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EGP. V Square Quantitative Management LLC grew its position in shares of EastGroup Properties by 47.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock worth $35,000 after buying an additional 61 shares during the period. CIBC Asset Management Inc grew its holdings in EastGroup Properties by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 72 shares during the period. Principal Securities Inc. lifted its stake in shares of EastGroup Properties by 18.5% in 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 period. Wealth Enhancement Advisory Services LLC boosted its position in shares of EastGroup Properties by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 90 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 95 shares during the period. Institutional investors own 92.14% of the company's stock.

About EastGroup Properties

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.