EastGroup Properties (NYSE:EGP) Price Target Lowered to $175.00 at Mizuho

EastGroup Properties (NYSE:EGP) had its target price dropped by equities researchers at Mizuho from $185.00 to $175.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price points to a potential upside of 8.84% from the company’s previous close.

EGP has been the subject of several other research reports. Royal Bank of Canada cut their price objective on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research report on Monday, May 6th. Piper Sandler dropped their target price on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. dropped their target price on EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Robert W. Baird dropped their target price on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Barclays dropped their target price on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $183.38.

EastGroup Properties Trading Up 1.2 %

Shares of EGP opened at $160.79 on Friday. The stock has a fifty day moving average price of $166.32 and a two-hundred day moving average price of $174.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. EastGroup Properties has a 52-week low of $154.75 and a 52-week high of $188.85. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.47 and a beta of 0.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners grew its stake in EastGroup Properties by 26.1% in the first quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock valued at $171,399,000 after acquiring an additional 197,427 shares during the period. Atria Investments Inc grew its stake in EastGroup Properties by 48.9% in the first quarter. Atria Investments Inc now owns 11,389 shares of the real estate investment trust’s stock valued at $2,047,000 after acquiring an additional 3,740 shares during the period. Zimmer Partners LP grew its stake in EastGroup Properties by 465.6% in the first quarter. Zimmer Partners LP now owns 200,558 shares of the real estate investment trust’s stock valued at $36,054,000 after acquiring an additional 165,100 shares during the period. Tidal Investments LLC boosted its position in shares of EastGroup Properties by 30.4% during the first quarter. Tidal Investments LLC now owns 18,316 shares of the real estate investment trust’s stock worth $3,293,000 after buying an additional 4,271 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of EastGroup Properties by 8.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,361 shares of the real estate investment trust’s stock worth $396,000 after buying an additional 177 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

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.