EastGroup Properties, Inc. (NYSE:EGP) Receives Consensus Rating of “Hold” from Brokerages

EastGroup Properties, Inc. (NYSE:EGPGet Free Report) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $183.38.

Several analysts recently issued reports on EGP shares. JPMorgan Chase & Co. cut their target price on shares of EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Barclays cut their price target on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Royal Bank of Canada lowered their price objective on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating on the stock in a research report on Monday, May 6th. Piper Sandler reduced their target price on shares of EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, Truist Financial lifted their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a report on Tuesday, February 20th.

Get Our Latest Stock Report on EGP

Institutional Trading of EastGroup Properties

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of EastGroup Properties in the fourth quarter valued at $31,000. Venturi Wealth Management LLC increased its holdings in shares of EastGroup Properties by 51.6% in the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 66 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of EastGroup Properties during the 4th quarter valued at about $37,000. Mather Group LLC. bought a new position in shares of EastGroup Properties in the 1st quarter valued at about $42,000. Finally, Tucker Asset Management LLC purchased a new position in EastGroup Properties in the third quarter worth about $44,000. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Up 2.7 %

EastGroup Properties stock opened at $165.18 on Friday. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85. The stock has a fifty day moving average of $166.01 and a 200 day moving average of $174.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $7.95 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.50 and a beta of 0.96.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.08%. EastGroup Properties’s dividend payout ratio is currently 110.20%.

EastGroup Properties Company Profile

(Get Free Report

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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Analyst Recommendations for EastGroup Properties (NYSE:EGP)

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