EastGroup Properties, Inc. (NYSE:EGP) Receives $190.88 Consensus Price Target from Analysts

EastGroup Properties, Inc. (NYSE:EGP) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $190.88.

A number of analysts have recently issued reports on EGP shares. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price target on the stock.

EastGroup Properties Trading Up 1.3 %

Shares of EGP stock opened at $178.92 on Friday. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 3.23 and a beta of 1.00. The firm’s 50 day moving average price is $165.89 and its two-hundred day moving average price is $175.47. EastGroup Properties has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%. On average, analysts anticipate that EastGroup Properties will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.13%. EastGroup Properties’s dividend payout ratio is currently 120.43%.

Hedge Funds Weigh In On EastGroup Properties

Several institutional investors have recently modified their holdings of EGP. V Square Quantitative Management LLC grew its position in EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 61 shares in the last quarter. CIBC Asset Management Inc grew its position in EastGroup Properties by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 72 shares in the last quarter. Principal Securities Inc. grew its position in EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in EastGroup Properties by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 90 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares in the last quarter. 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.