KeyCorp Cuts EastGroup Properties (NYSE:EGP) Price Target to $178.00

EastGroup Properties (NYSE:EGP) had its price objective dropped by KeyCorp from $198.00 to $178.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s target price suggests a potential upside of 12.79% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Barclays cut their target price on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Monday. Mizuho reissued a “neutral” rating and issued a $185.00 target price on shares of EastGroup Properties in a research note on Tuesday, April 2nd. Truist Financial lifted their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research note on Tuesday, February 20th. BMO Capital Markets began coverage on shares of EastGroup Properties in a research note on Monday, April 22nd. They issued an “outperform” rating and a $190.00 price objective for the company. Finally, Evercore ISI decreased their price target on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and a consensus price target of $186.27.

EastGroup Properties Price Performance

EGP stock opened at $157.82 on Tuesday. EastGroup Properties has a 52 week low of $154.75 and a 52 week high of $188.85. The firm has a market capitalization of $7.60 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 2.47 and a beta of 0.93. The company has a fifty day simple moving average of $174.31 and a two-hundred day simple moving average of $175.03. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.63.

Insider Activity at EastGroup Properties

In other news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value of $456,850.00. Following the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at approximately $18,752,230.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of EastGroup Properties

A number of institutional investors have recently made changes to their positions in EGP. GAMMA Investing LLC acquired a new position in EastGroup Properties during the 4th quarter valued at approximately $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 worth $36,000 after acquiring an additional 66 shares during the last quarter. ZRC Wealth Management LLC purchased a new position in EastGroup Properties in the 4th quarter worth $37,000. Mather Group LLC. acquired a new stake in EastGroup Properties during the 1st quarter worth about $42,000. Finally, Tucker Asset Management LLC purchased a new stake in EastGroup Properties during the 3rd quarter valued at about $44,000. 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.