EastGroup Properties, Inc. (NYSE:EGP) Receives $188.00 Average Price Target from Analysts

Shares of EastGroup Properties, Inc. (NYSE:EGP - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $188.00.

EGP has been the topic of a number of analyst reports. Robert W. Baird decreased their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company cut their target price on EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. Barclays lowered their target price on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler cut their price objective on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th.

EastGroup Properties Stock Down 0.0%

Shares of NYSE:EGP traded down $0.04 on Thursday, hitting $172.05. 256,862 shares of the company's stock were exchanged, compared to its average volume of 374,132. EastGroup Properties has a 1-year low of $137.67 and a 1-year high of $192.61. The company has a market capitalization of $9.04 billion, a PE ratio of 37.00, a P/E/G ratio of 3.35 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The firm's 50-day moving average is $164.25 and its 200 day moving average is $169.03.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. The company had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. EastGroup Properties's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 earnings per share. Sell-side analysts predict that EastGroup Properties will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, June 30th. EastGroup Properties's dividend payout ratio (DPR) is 122.54%.

Institutional Investors Weigh In On EastGroup Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of EGP. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of EastGroup Properties by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 53,632 shares of the real estate investment trust's stock worth $8,607,000 after purchasing an additional 706 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in EastGroup Properties by 1.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the real estate investment trust's stock worth $2,199,000 after acquiring an additional 200 shares during the last quarter. Van ECK Associates Corp grew its holdings in EastGroup Properties by 0.7% during the 4th quarter. Van ECK Associates Corp now owns 20,600 shares of the real estate investment trust's stock worth $3,306,000 after acquiring an additional 152 shares during the last quarter. Castellan Group acquired a new position in EastGroup Properties in the 4th quarter valued at approximately $3,622,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of EastGroup Properties by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 92,939 shares of the real estate investment trust's stock valued at $14,993,000 after acquiring an additional 1,161 shares during the last quarter. Institutional investors own 92.14% of the company's stock.

About EastGroup Properties

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.