EastGroup Properties, Inc. (NYSE:EGP – Get Rating) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 1,020,000 shares, a growth of 18.6% from the July 15th total of 860,000 shares. Based on an average daily volume of 377,500 shares, the short-interest ratio is currently 2.7 days.

EastGroup Properties Stock Performance

Shares of NYSE:EGP traded up $2.07 on Monday, hitting $179.41. 138,138 shares of the company were exchanged, compared to its average volume of 302,385. EastGroup Properties has a 1-year low of $148.33 and a 1-year high of $229.84. The stock's 50 day moving average price is $161.06 and its 200 day moving average price is $178.56. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $7.82 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 3.27 and a beta of 0.87.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $4.40 dividend on an annualized basis and a yield of 2.45%. EastGroup Properties's dividend payout ratio is presently 85.60%.

Institutional Inflows and Outflows

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EGP shares. Evercore ISI set a $185.00 target price on shares of EastGroup Properties in a report on Monday, June 20th. Piper Sandler lowered their target price on shares of EastGroup Properties to $200.00 in a research note on Monday, July 4th. Jefferies Financial Group reduced their price target on shares of EastGroup Properties from $200.00 to $144.00 and set a "hold" rating on the stock in a report on Thursday, June 30th. Mizuho lowered their price target on shares of EastGroup Properties from $215.00 to $180.00 and set a "na" rating for the company in a report on Tuesday, May 17th. Finally, Truist Financial decreased their price objective on shares of EastGroup Properties from $200.00 to $175.00 and set a "hold" rating for the company in a research note on Tuesday, May 31st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, EastGroup Properties has a consensus rating of "Hold" and an average price target of $192.70.

EastGroup Properties Company Profile

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EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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.

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