EastGroup Properties, Inc. (NYSE:EGP) Receives $200.18 Average PT from Analysts

Shares of EastGroup Properties, Inc. (NYSE:EGP) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $200.1765.

A number of research firms have commented on EGP. Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Royal Bank Of Canada boosted their target price on shares of EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 18th. Evercore set a $188.00 target price on shares of EastGroup Properties in a research note on Friday, February 6th. Citigroup increased their price target on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Mizuho reiterated a “neutral” rating and issued a $172.00 price target (down from $180.00) on shares of EastGroup Properties in a research note on Thursday, December 4th.

Institutional Investors Weigh In On EastGroup Properties

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in EastGroup Properties by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after purchasing an additional 41,538 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of EastGroup Properties by 309.8% during the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after purchasing an additional 12,003 shares during the period. Focus Partners Wealth raised its holdings in shares of EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after purchasing an additional 130 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of EastGroup Properties by 20.2% in the 2nd quarter. Bank of Montreal Can now owns 10,484 shares of the real estate investment trust’s stock worth $1,752,000 after buying an additional 1,765 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Up 1.3%

EGP stock opened at $190.10 on Friday. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $197.95. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.14 billion, a P/E ratio of 39.03, a PEG ratio of 3.05 and a beta of 1.10. The firm has a 50 day simple moving average of $187.52 and a 200-day simple moving average of $179.59.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is currently 127.31%.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.