EastGroup Properties (NYSE:EGP – Get Rating) had its target price increased by Wells Fargo & Company from $170.00 to $178.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage 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. Truist Financial reduced their price target on EastGroup Properties from $200.00 to $175.00 and set a hold rating on the stock in a report on Tuesday, May 31st. Jefferies Financial Group lowered 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. Piper Sandler decreased their target price on shares of EastGroup Properties to $200.00 in a research note on Monday, July 4th. Mizuho reduced their price objective on EastGroup Properties from $215.00 to $180.00 and set a na rating for the company in a research note on Tuesday, May 17th. Finally, Morgan Stanley cut their price target on EastGroup Properties from $215.00 to $195.00 and set an equal weight rating for the company in a research note on Monday, August 1st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $192.70.
Get EastGroup Properties alerts:EastGroup Properties Stock Performance
NYSE:EGP opened at $177.34 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.04 and a quick ratio of 0.04. The business has a fifty day simple moving average of $160.74 and a two-hundred day simple moving average of $178.70. EastGroup Properties has a 1 year low of $148.33 and a 1 year high of $229.84. The company has a market capitalization of $7.73 billion, a P/E ratio of 34.50, a P/E/G ratio of 3.27 and a beta of 0.87.
EastGroup Properties Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.48%. The ex-dividend date was Wednesday, June 29th. EastGroup Properties's payout ratio is 85.60%.Hedge Funds Weigh In On EastGroup Properties
Several institutional investors have recently bought and sold shares of EGP. Janney Montgomery Scott LLC acquired a new stake in EastGroup Properties in the fourth quarter valued at approximately $600,000. Commonwealth Equity Services LLC boosted its stake in EastGroup Properties by 3.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,897 shares of the real estate investment trust's stock valued at $432,000 after acquiring an additional 60 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in EastGroup Properties by 16.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,912 shares of the real estate investment trust's stock valued at $1,803,000 after acquiring an additional 1,144 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of EastGroup Properties by 1.1% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 6,745 shares of the real estate investment trust's stock worth $1,537,000 after buying an additional 71 shares during the period. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of EastGroup Properties during the fourth quarter worth $57,000. 91.02% of the stock is owned by hedge funds and other institutional investors.
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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