EastGroup Properties (NYSE:EGP) Receives “In-Line” Rating from Evercore ISI

EastGroup Properties (NYSE:EGP)‘s stock had its “in-line” rating reissued by equities research analysts at Evercore ISI in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $185.00 price target on the real estate investment trust’s stock, up from their prior price target of $181.00. Evercore ISI’s price target indicates a potential upside of 3.15% from the company’s previous close.

EGP has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price target for the company. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Truist Financial raised their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and an average price target of $190.47.

EastGroup Properties Stock Down 1.2 %

Shares of NYSE:EGP opened at $179.36 on Monday. The company has a fifty day moving average of $174.32 and a 200-day moving average of $174.97. The company has a market capitalization of $9.33 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties has a 52-week low of $155.10 and a 52-week high of $192.61.

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 for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, equities analysts predict that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EGP. Cohen & Steers Inc. lifted its holdings in shares of EastGroup Properties by 141.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust’s stock worth $458,347,000 after acquiring an additional 1,673,663 shares during the last quarter. Raymond James Financial Inc. bought a new stake in EastGroup Properties in the fourth quarter worth $116,756,000. FMR LLC increased its position in shares of EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after acquiring an additional 629,827 shares during the period. Norges Bank purchased a new position in shares of EastGroup Properties in the fourth quarter valued at about $100,579,000. Finally, Daiwa Securities Group Inc. increased its position in shares of EastGroup Properties by 210.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust’s stock valued at $113,584,000 after acquiring an additional 479,873 shares during the period. 92.14% of the stock is 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.