EastGroup Properties, Inc. (NYSE:EGP) Receives $191.65 Consensus PT from Analysts

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $191.65.

EGP has been the subject of a number of recent analyst reports. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a research report on Tuesday, January 14th. They set a “buy” rating and a $180.00 target price for the company. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Finally, Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cerity Partners LLC raised its stake in EastGroup Properties by 35.6% during the third quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust’s stock worth $2,545,000 after acquiring an additional 3,574 shares in the last quarter. Franklin Resources Inc. raised its stake in EastGroup Properties by 337.0% during the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust’s stock worth $8,728,000 after acquiring an additional 37,863 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in EastGroup Properties by 20.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 275 shares in the last quarter. Nordea Investment Management AB raised its stake in EastGroup Properties by 6.1% during the fourth quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust’s stock worth $11,667,000 after acquiring an additional 4,176 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in EastGroup Properties during the fourth quarter worth $1,871,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Trading Down 1.0 %

NYSE:EGP opened at $185.68 on Tuesday. The stock’s 50 day moving average price is $170.54 and its 200 day moving average price is $175.29. EastGroup Properties has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a market capitalization of $9.66 billion, a P/E ratio of 39.93, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, research analysts forecast that EastGroup Properties will post 8.94 EPS for the current fiscal year.

EastGroup Properties Company Profile

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.