Robert W. Baird Trims EastGroup Properties (NYSE:EGP) Target Price to $175.00

EastGroup Properties (NYSE:EGP) had its price target decreased by Robert W. Baird from $195.00 to $175.00 in a research report report published on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial lifted their price objective on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a hold rating in a research report on Tuesday, February 20th. Royal Bank of Canada lifted their price objective on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a sector perform rating in a research report on Friday, February 16th. Mizuho reiterated a neutral rating and set a $185.00 price objective on shares of EastGroup Properties in a research report on Tuesday, April 2nd. BMO Capital Markets began coverage on shares of EastGroup Properties in a research report on Monday, April 22nd. They set an outperform rating and a $190.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of EastGroup Properties in a research report on Thursday, April 11th. They set a neutral rating and a $190.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $185.13.

EastGroup Properties Price Performance

NYSE EGP opened at $159.86 on Wednesday. EastGroup Properties has a 12 month low of $154.75 and a 12 month high of $188.85. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.75 and a beta of 0.96. The company’s 50 day moving average is $172.39 and its two-hundred day moving average is $174.73. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.18%. The ex-dividend date was Wednesday, March 27th. EastGroup Properties’s payout ratio is 110.20%.

Insiders Place Their Bets

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, the chief financial officer now directly owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Institutional Trading of EastGroup Properties

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in shares of EastGroup Properties during the fourth quarter valued at $31,000. Venturi Wealth Management LLC boosted its stake in shares of EastGroup Properties by 51.6% during the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 66 shares during the period. ZRC Wealth Management LLC purchased a new stake in shares of EastGroup Properties during the fourth quarter valued at $37,000. Mather Group LLC. purchased a new stake in shares of EastGroup Properties during the first quarter valued at $42,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of EastGroup Properties during the third quarter valued at $44,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

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.