EastGroup Properties (NYSE:EGP - Get Free Report) had its price objective reduced by research analysts at Evercore ISI from $190.00 to $178.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price would indicate a potential upside of 14.35% from the company's previous close.
A number of other equities analysts have also weighed in on the stock. Barclays assumed coverage on shares of EastGroup Properties in a research report on Wednesday, March 27th. They issued an "equal weight" rating and a $181.00 price objective on the stock. Truist Financial lifted their price objective on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a "hold" rating in a research report on Tuesday, February 20th. Royal Bank of Canada lifted their price objective on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a "sector perform" rating in a research report on Friday, February 16th. KeyCorp lifted their price objective on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. Finally, BMO Capital Markets assumed coverage on shares of EastGroup Properties in a research report on Monday. They issued an "outperform" rating and a $190.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $189.00.
Get Our Latest Research Report on EGP
EastGroup Properties Stock Performance
NYSE:EGP traded down $2.33 during midday trading on Thursday, reaching $155.66. The stock had a trading volume of 421,316 shares, compared to its average volume of 289,828. The firm has a fifty day simple moving average of $175.93 and a two-hundred day simple moving average of $175.25. EastGroup Properties has a 12-month low of $154.75 and a 12-month high of $188.85. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.64. The stock has a market cap of $7.47 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.63 and a beta of 0.93.
Insider Transactions at EastGroup Properties
In other news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, the chief financial officer now owns 102,617 shares of the company's stock, valued at approximately $18,752,230.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in EGP. GAMMA Investing LLC acquired a new position in EastGroup Properties in the 4th quarter valued at about $31,000. Venturi Wealth Management LLC raised its stake in 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 valued at $36,000 after purchasing an additional 66 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in EastGroup Properties in the 4th quarter valued at about $37,000. Mather Group LLC. acquired a new position in EastGroup Properties in the 1st quarter valued at about $42,000. Finally, Tucker Asset Management LLC acquired a new position in EastGroup Properties in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 92.14% of the company's stock.
About EastGroup Properties
(
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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.
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