EastGroup Properties (NYSE:EGP) Price Target Cut to $175.00 by Analysts at Truist Financial

EastGroup Properties (NYSE:EGPGet Rating) had its price target dropped by equities research analysts at Truist Financial from $200.00 to $175.00 in a research note issued to investors on Tuesday, The Fly reports. Truist Financial’s price target suggests a potential upside of 6.47% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Mizuho cut their price target on EastGroup Properties from $215.00 to $180.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. StockNews.com initiated coverage on EastGroup Properties in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company cut their target price on EastGroup Properties from $220.00 to $184.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 15th. Piper Sandler cut their target price on EastGroup Properties from $245.00 to $230.00 in a research note on Wednesday, May 4th. Finally, Zacks Investment Research cut EastGroup Properties from a “buy” rating to a “hold” rating in a research note on Friday, April 15th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $205.90.

Shares of EGP stock opened at $164.37 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.87. The stock has a market cap of $6.85 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 3.19 and a beta of 0.87. The stock has a 50 day simple moving average of $187.04 and a 200 day simple moving average of $197.61. EastGroup Properties has a 1 year low of $151.22 and a 1 year high of $229.84.

EastGroup Properties (NYSE:EGPGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.81). EastGroup Properties had a net margin of 45.65% and a return on equity of 12.84%. During the same period in the prior year, the firm earned $1.45 earnings per share. Analysts forecast that EastGroup Properties will post 6.79 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in EGP. EverSource Wealth Advisors LLC bought a new position in shares of EastGroup Properties in the 4th quarter valued at $28,000. HHM Wealth Advisors LLC acquired a new stake in EastGroup Properties in the first quarter valued at $28,000. Consolidated Planning Corp acquired a new stake in EastGroup Properties in the third quarter valued at $29,000. Confluence Wealth Services Inc. acquired a new stake in EastGroup Properties in the fourth quarter valued at $29,000. Finally, UMB Bank N A MO acquired a new stake in EastGroup Properties in the fourth quarter valued at $32,000. Institutional investors own 91.02% of the company’s stock.

EastGroup Properties Company Profile (Get Rating)

EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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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