EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Recommendation of “Hold” by Analysts

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $186.79.

EGP has been the subject of several research analyst reports. Wedbush lifted their price target on shares of EastGroup Properties from $208.00 to $209.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. KeyCorp boosted their target price on EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Mizuho cut their price target on EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Robert W. Baird decreased their price objective on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley upped their target price on EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in EastGroup Properties by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,863,129 shares of the real estate investment trust’s stock worth $1,233,785,000 after purchasing an additional 210,207 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of EastGroup Properties by 7.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 975,450 shares of the real estate investment trust’s stock worth $175,359,000 after buying an additional 71,614 shares during the last quarter. Boston Partners grew its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of EastGroup Properties by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust’s stock valued at $123,848,000 after acquiring an additional 53,083 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in EastGroup Properties by 29.3% during the fourth quarter. Eagle Asset Management Inc. now owns 646,613 shares of the real estate investment trust’s stock worth $118,679,000 after acquiring an additional 146,381 shares during the period. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Trading Up 0.5 %

NYSE EGP opened at $185.64 on Friday. The stock has a market capitalization of $8.94 billion, a P/E ratio of 40.11, a P/E/G ratio of 2.93 and a beta of 0.98. The business has a 50 day simple moving average of $178.48 and a 200 day simple moving average of $173.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.21 and a quick ratio of 0.21. EastGroup Properties has a one year low of $154.75 and a one year high of $192.61.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.91). The company had revenue of $159.09 million for the quarter, compared to analyst estimates of $156.70 million. EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. Research analysts expect that EastGroup Properties will post 8.3 earnings per share for the current year.

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.