EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

EastGroup Properties, Inc. (NYSE:EGP) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $191.21.

A number of analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $209.00 price target on shares of EastGroup Properties in a research report on Friday, October 25th. Evercore ISI increased their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Truist Financial lowered their price target on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $186.00 price objective on shares of EastGroup Properties in a research report on Wednesday, October 30th. Finally, Barclays decreased their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th.

EastGroup Properties Trading Up 1.0 %

NYSE EGP opened at $173.84 on Friday. The firm has a market capitalization of $8.61 billion, a PE ratio of 35.92, a P/E/G ratio of 2.25 and a beta of 1.00. The stock’s 50 day moving average is $178.13 and its 200 day moving average is $177.17. EastGroup Properties has a twelve month low of $155.23 and a twelve month 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 released its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The business had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $161.52 million. During the same period in the prior year, the company earned $1.95 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts forecast that EastGroup Properties will post 8.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EastGroup Properties

A number of large investors have recently made changes to their positions in EGP. State Street Corp boosted its holdings in shares of EastGroup Properties by 2.1% in the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust’s stock worth $456,872,000 after buying an additional 49,268 shares during the last quarter. FMR LLC boosted its stake in shares of EastGroup Properties by 67.9% during the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after acquiring an additional 629,827 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of EastGroup Properties by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 975,450 shares of the real estate investment trust’s stock valued at $175,359,000 after acquiring an additional 71,614 shares during the period. Boston Partners increased its stake in shares of EastGroup Properties by 26.1% in the 1st quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock worth $171,399,000 after purchasing an additional 197,427 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in EastGroup Properties by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust’s stock worth $168,032,000 after purchasing an additional 10,435 shares during the period. 92.14% of the stock is currently owned by institutional investors.

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.