EastGroup Properties (NYSE:EGP) Raised to Hold at StockNews.com

EastGroup Properties (NYSE:EGP - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a report issued on Monday.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and upped their target price for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Morgan Stanley lowered their price target on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Finally, Wedbush reiterated an "outperform" rating and issued a $209.00 price target on shares of EastGroup Properties in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.53.

EastGroup Properties Price Performance

EGP traded down $0.78 on Monday, hitting $179.64. 342,670 shares of the company were exchanged, compared to its average volume of 427,053. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. The business's fifty day moving average is $166.30 and its 200 day moving average is $175.52. EastGroup Properties has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The firm has a market capitalization of $8.89 billion, a P/E ratio of 38.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.00.

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

Hedge Funds Weigh In On EastGroup Properties

Large investors have recently bought and sold shares of the stock. Crowley Wealth Management Inc. purchased a new position in EastGroup Properties during the fourth quarter worth approximately $29,000. Canton Hathaway LLC purchased a new position in shares of EastGroup Properties in the 4th quarter valued at $30,000. V Square Quantitative Management LLC raised its stake in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 61 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of 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 during the period. Finally, Principal Securities Inc. raised 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 acquiring an additional 84 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.