EastGroup Properties (NYSE:EGP) PT Lowered to $175.00

EastGroup Properties (NYSE:EGP - Get Free Report) had its price target cut by investment analysts at Barclays from $181.00 to $175.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price objective points to a potential upside of 10.89% from the company's previous close.

Other analysts have also recently issued reports about the stock. Evercore ISI decreased their price objective on shares of EastGroup Properties from $190.00 to $178.00 and set an "in-line" rating on the stock in a research note on Thursday. KeyCorp boosted their target price on EastGroup Properties from $188.00 to $198.00 and gave the stock an "overweight" rating in a report on Monday, February 12th. Royal Bank of Canada raised their price target on EastGroup Properties from $180.00 to $190.00 and gave the company a "sector perform" rating in a report on Friday, February 16th. Mizuho reissued a "neutral" rating and issued a $185.00 price objective on shares of EastGroup Properties in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets started coverage on EastGroup Properties in a research note on Monday, April 22nd. They issued an "outperform" rating and a $190.00 target price for the company. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $187.60.

EastGroup Properties Price Performance

Shares of EGP traded up $1.90 during trading hours on Monday, hitting $157.82. The stock had a trading volume of 223,267 shares, compared to its average volume of 289,165. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 2.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10. The company's fifty day moving average is $174.31 and its two-hundred day moving average is $175.03. EastGroup Properties has a 52 week low of $154.75 and a 52 week high of $188.85.

Insider Buying and Selling at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the company's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the sale, the chief financial officer now owns 102,617 shares in the company, valued at approximately $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On EastGroup Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGP. GAMMA Investing LLC acquired a new stake in shares of EastGroup Properties in the 4th quarter valued at approximately $31,000. Venturi Wealth Management LLC increased its stake in EastGroup Properties by 51.6% in the fourth 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 in the last quarter. ZRC Wealth Management LLC acquired a new stake in EastGroup Properties in the fourth quarter worth $37,000. Mather Group LLC. acquired a new stake in EastGroup Properties in the first quarter worth $42,000. Finally, Tucker Asset Management LLC bought a new position in shares of EastGroup Properties during the third quarter worth $44,000. 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.