Eastgroup Properties Inc (NYSE:EGP) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $86.90.
A number of research analysts recently issued reports on EGP shares. Bank of America boosted their price objective on Eastgroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Zacks Investment Research downgraded Eastgroup Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley restated an “equal weight” rating and issued a $82.00 price target on shares of Eastgroup Properties in a research note on Thursday, December 14th. ValuEngine upgraded Eastgroup Properties from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, SunTrust Banks upgraded Eastgroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd.
Shares of Eastgroup Properties (NYSE:EGP) traded up $0.21 during trading hours on Tuesday, hitting $82.11. The company had a trading volume of 199,053 shares, compared to its average volume of 281,614. The company has a market cap of $2,852.42, a P/E ratio of 33.79, a PEG ratio of 4.23 and a beta of 0.92. Eastgroup Properties has a 52 week low of $69.90 and a 52 week high of $95.03.
Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The company had revenue of $71.36 million during the quarter, compared to the consensus estimate of $69.66 million. Eastgroup Properties had a return on equity of 11.58% and a net margin of 30.34%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. sell-side analysts expect that Eastgroup Properties will post 4.51 EPS for the current fiscal year.
In other news, Director Fredric H. Gould acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $80.05 per share, with a total value of $240,150.00. Following the acquisition, the director now directly owns 13,688 shares of the company’s stock, valued at $1,095,724.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brent Wood sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $90.26, for a total value of $297,858.00. The disclosure for this sale can be found here. Insiders sold a total of 19,136 shares of company stock valued at $1,779,599 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Integrated Investment Consultants LLC purchased a new stake in shares of Eastgroup Properties during the 3rd quarter worth approximately $115,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Eastgroup Properties during the 4th quarter worth approximately $148,000. Everence Capital Management Inc. purchased a new stake in shares of Eastgroup Properties during the 3rd quarter worth approximately $202,000. MML Investors Services LLC purchased a new stake in shares of Eastgroup Properties during the 4th quarter worth approximately $218,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Eastgroup Properties during the 2nd quarter worth approximately $216,000. 95.82% of the stock is currently owned by institutional investors and hedge funds.
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About Eastgroup Properties
EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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