EastGroup Properties, Inc. (NYSE:EGP – Get Free Report) has received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $176.70.
EGP has been the topic of a number of research analyst reports. KeyCorp raised their target price on shares of EastGroup Properties from $174.00 to $188.00 in a research report on Wednesday. Citigroup upgraded EastGroup Properties from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $165.00 to $195.00 in a research report on Monday, June 12th. StockNews.com started coverage on EastGroup Properties in a report on Thursday, May 18th. They set a “hold” rating on the stock. Mizuho upgraded shares of EastGroup Properties from a “neutral” rating to a “buy” rating and raised their price objective for the company from $180.00 to $185.00 in a report on Monday, March 20th. Finally, Truist Financial decreased their price target on shares of EastGroup Properties from $180.00 to $175.00 in a research report on Monday, May 15th.
EastGroup Properties Stock Performance
EastGroup Properties stock opened at $182.13 on Thursday. The stock has a market cap of $7.93 billion, a PE ratio of 47.06, a P/E/G ratio of 3.57 and a beta of 0.93. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.88. EastGroup Properties has a 12-month low of $137.47 and a 12-month high of $183.16. The business’s 50-day moving average price is $169.51 and its two-hundred day moving average price is $164.77.
EastGroup Properties Dividend Announcement
Insider Transactions at EastGroup Properties
In other EastGroup Properties news, Director Hayden C. Eaves III sold 638 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $163.41, for a total transaction of $104,255.58. Following the transaction, the director now owns 7,540 shares in the company, valued at $1,232,111.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.
Hedge Funds Weigh In On EastGroup Properties
A number of large investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its stake in shares of EastGroup Properties by 783.3% during the first quarter. Parallel Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 141 shares during the last quarter. Dark Forest Capital Management LP grew its position in EastGroup Properties by 3,380.0% during the 1st quarter. Dark Forest Capital Management LP now owns 174 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 169 shares during the last quarter. Delta Asset Management LLC TN purchased a new stake in EastGroup Properties during the 4th quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new stake in shares of EastGroup Properties during the fourth quarter worth $41,000. Finally, Group One Trading L.P. acquired a new stake in EastGroup Properties during the 1st quarter worth about $41,000. 91.56% of the stock is owned by institutional investors and hedge funds.
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.
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