Analysts Set EastGroup Properties, Inc. (NYSE:EGP) PT at $197.89

EastGroup Properties, Inc. (NYSE:EGP) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $200.1765.

Several equities research analysts recently issued reports on the stock. Mizuho reaffirmed a “neutral” rating and set a $172.00 price target (down previously from $180.00) on shares of EastGroup Properties in a research note on Thursday, December 4th. Evercore set a $188.00 price target on EastGroup Properties in a report on Friday, February 6th. Wall Street Zen lowered EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Cantor Fitzgerald lifted their price objective on EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, KeyCorp increased their target price on EastGroup Properties from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of EastGroup Properties by 13.4% during the 3rd quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock worth $13,912,000 after purchasing an additional 9,776 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of EastGroup Properties by 43.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock valued at $336,076,000 after buying an additional 602,253 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in EastGroup Properties by 34.1% in the second quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock worth $2,289,000 after buying an additional 3,480 shares during the last quarter. Tributary Capital Management LLC bought a new position in EastGroup Properties during the third quarter valued at approximately $1,294,000. Finally, Amalgamated Bank lifted its stake in EastGroup Properties by 1.3% in the second quarter. Amalgamated Bank now owns 23,972 shares of the real estate investment trust’s stock valued at $4,006,000 after acquiring an additional 299 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $190.78 on Tuesday. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.17 billion, a PE ratio of 39.17, a P/E/G ratio of 2.79 and a beta of 1.11. The company’s fifty day simple moving average is $183.83 and its 200-day simple moving average is $176.13. EastGroup Properties has a 52 week low of $137.67 and a 52 week high of $193.68.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is 127.31%.

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.