share_log

EastGroup Properties (NYSE:EGP) Given New $178.00 Price Target at Wells Fargo & Company

Financial News Live ·  Aug 12, 2022 11:52

EastGroup Properties (NYSE:EGP – Get Rating) had its target price increased by Wells Fargo & Company from $170.00 to $178.00 in a report published on Thursday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust's stock.

EGP has been the topic of a number of other research reports. Jefferies Financial Group dropped their price objective on EastGroup Properties from $200.00 to $144.00 and set a hold rating on the stock in a research report on Thursday, June 30th. Mizuho dropped their price objective on EastGroup Properties from $215.00 to $180.00 and set a na rating on the stock in a research report on Tuesday, May 17th. Evercore ISI set a $185.00 price objective on EastGroup Properties in a research report on Monday, June 20th. Truist Financial dropped their price objective on EastGroup Properties from $200.00 to $175.00 and set a hold rating on the stock in a research report on Tuesday, May 31st. Finally, Morgan Stanley dropped their price objective on EastGroup Properties from $215.00 to $195.00 and set an equal weight rating on the stock in a research report on Monday, August 1st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, EastGroup Properties has a consensus rating of Hold and a consensus price target of $192.70.

Get EastGroup Properties alerts:

EastGroup Properties Stock Up 1.4 %

Shares of EastGroup Properties stock traded up $2.37 during trading on Thursday, hitting $175.92. 2,282 shares of the stock traded hands, compared to its average volume of 208,179. The firm has a market cap of $7.66 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 3.21 and a beta of 0.87. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.82. EastGroup Properties has a 52-week low of $148.33 and a 52-week high of $229.84. The stock's fifty day simple moving average is $160.50 and its 200 day simple moving average is $179.03.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, June 29th. EastGroup Properties's payout ratio is 85.60%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. HHM Wealth Advisors LLC purchased a new position in shares of EastGroup Properties in the first quarter worth about $28,000. Confluence Wealth Services Inc. purchased a new position in EastGroup Properties during the fourth quarter valued at approximately $29,000. Better Money Decisions LLC purchased a new position in EastGroup Properties during the second quarter valued at approximately $30,000. UMB Bank N A MO purchased a new position in EastGroup Properties during the fourth quarter valued at approximately $32,000. Finally, USA Financial Portformulas Corp purchased a new position in EastGroup Properties during the fourth quarter valued at approximately $38,000. 91.02% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Company Profile

(Get Rating)

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.

Read More

  • Get a free copy of the StockNews.com research report on EastGroup Properties (EGP)
  • Institutions And Analysts Propel Jack In The Box Higher
  • Can You Guess Which EV Stock Is Beating Tesla ?
  • Look at Honeywell for a Steady and Diversified Stock
  • Why Invest in High-Yield Dividend Stocks?
  • Find and Profitably Trade Stocks at 52-Week Lows

Receive News & Ratings for EastGroup Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EastGroup Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment