EastGroup Properties (NYSE:EGP) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of EastGroup Properties (NYSE:EGP) in a report released on Monday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $190.00 price target on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on EastGroup Properties in a report on Thursday, April 11th. They issued a neutral rating and a $190.00 target price on the stock. Truist Financial upped their target price on EastGroup Properties from $186.00 to $188.00 and gave the company a hold rating in a report on Tuesday, February 20th. KeyCorp upped their target price on EastGroup Properties from $188.00 to $198.00 and gave the company an overweight rating in a report on Monday, February 12th. Mizuho reiterated a neutral rating and issued a $185.00 target price on shares of EastGroup Properties in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price objective on EastGroup Properties from $180.00 to $190.00 and gave the stock a sector perform rating in a report on Friday, February 16th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $188.47.

EastGroup Properties Price Performance

EGP stock opened at $163.11 on Monday. The firm has a market capitalization of $7.83 billion, a PE ratio of 36.99, a P/E/G ratio of 2.52 and a beta of 0.93. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $176.79 and a two-hundred day moving average of $175.38.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a yield of 3.11%. EastGroup Properties’s payout ratio is currently 115.19%.

Insiders Place Their Bets

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the sale, the chief financial officer now owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On EastGroup Properties

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of EastGroup Properties in the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its position in shares of EastGroup Properties by 51.6% in the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 66 shares during the period. ZRC Wealth Management LLC bought a new stake in shares of EastGroup Properties in the fourth quarter valued at approximately $37,000. Mather Group LLC. bought a new stake in shares of EastGroup Properties in the first quarter valued at approximately $42,000. Finally, Tucker Asset Management LLC bought a new stake in shares of EastGroup Properties in the third quarter valued at approximately $44,000. 92.14% of the stock is owned by institutional investors.

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.