EastGroup Properties (NYSE:EGP) Stock Price Expected to Rise, Truist Financial Analyst Says

EastGroup Properties (NYSE:EGP) had its price target upped by analysts at Truist Financial from $168.00 to $180.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential upside of 0.20% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price target for the company. StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.53.

EastGroup Properties Stock Down 0.4 %

NYSE EGP opened at $179.64 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a 50-day simple moving average of $166.53 and a 200 day simple moving average of $175.39. EastGroup Properties has a twelve month low of $155.10 and a twelve month high of $192.61. The stock has a market cap of $8.89 billion, a PE ratio of 38.63, a PEG ratio of 3.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%. On average, research analysts forecast that EastGroup Properties will post 8.94 EPS for the current year.

Institutional Trading of EastGroup Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Crowley Wealth Management Inc. bought a new position in EastGroup Properties in the fourth quarter valued at approximately $29,000. Canton Hathaway LLC bought a new position in EastGroup Properties in the fourth quarter valued at approximately $30,000. V Square Quantitative Management LLC boosted its stake in EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 61 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in EastGroup Properties by 503.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds 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.