EastGroup Properties, Inc. (NYSE:EGP) Given Average Rating of “Hold” by Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $182.41.

A number of brokerages have recently issued reports on EGP. Piper Sandler dropped their price target on shares of EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Robert W. Baird lowered their price objective on shares of EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Royal Bank of Canada lowered their price objective on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research note on Monday, May 6th. Mizuho lowered their price objective on shares of EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, BNP Paribas began coverage on shares of EastGroup Properties in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $167.00 price objective for the company.

EastGroup Properties Stock Up 1.0 %

Shares of NYSE EGP opened at $168.63 on Thursday. The company has a market capitalization of $8.12 billion, a P/E ratio of 36.58, a price-to-earnings-growth ratio of 2.60 and a beta of 0.98. EastGroup Properties has a 52-week low of $154.75 and a 52-week high of $188.85. 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 company’s 50 day moving average price is $163.24 and its 200-day moving average price is $173.91.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.08 annualized dividend and a dividend yield of 3.01%. EastGroup Properties’s payout ratio is 110.20%.

Institutional Trading of EastGroup Properties

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of EastGroup Properties in the 4th quarter worth $31,000. Venturi Wealth Management LLC grew its stake 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 acquiring an additional 66 shares in the last quarter. ZRC Wealth Management LLC purchased a new position in shares of EastGroup Properties in the 4th quarter worth about $37,000. Mather Group LLC. purchased a new position in shares of EastGroup Properties in the 1st quarter worth about $42,000. Finally, Tucker Asset Management LLC purchased a new position in shares of EastGroup Properties in the 3rd quarter worth about $44,000. Institutional investors own 92.14% of the company’s stock.

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.