KeyCorp Increases EastGroup Properties (NYSE:EGP) Price Target to $205.00

EastGroup Properties (NYSE:EGP) had its target price hoisted by equities researchers at KeyCorp from $200.00 to $205.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price target points to a potential upside of 6.99% from the stock’s previous close.

Several other research firms have also weighed in on EGP. Evercore ISI set a $188.00 target price on EastGroup Properties in a research note on Friday. Cantor Fitzgerald raised their price target on shares of EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank Of Canada set a $183.00 price target on EastGroup Properties and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. Evercore set a $188.00 price objective on shares of EastGroup Properties in a research note on Friday. Finally, UBS Group set a $200.00 price objective on shares of EastGroup Properties in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.41.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $191.60 on Tuesday. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $191.59. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 39.19, a P/E/G ratio of 2.78 and a beta of 1.11. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $182.17 and a 200 day simple moving average of $174.77.

Hedge Funds Weigh In On EastGroup Properties

A number of large investors have recently modified their holdings of the company. True Wealth Design LLC lifted its stake in shares of EastGroup Properties by 159.7% in the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. State of Wyoming bought a new position in shares of EastGroup Properties in the second quarter valued at approximately $27,000. MAI Capital Management increased its position in shares of EastGroup Properties by 83.7% during the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in EastGroup Properties during the third quarter worth about $34,000. Finally, Mather Group LLC. bought a new stake in shares of EastGroup Properties in the 3rd quarter worth approximately $35,000. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.