Wells Fargo analyst James Feldman maintained a Hold rating on Eastgroup Properties (EGP – Research Report) on February 16 and set a price target of $179.00. The company’s shares closed last Friday at $182.71.
Feldman covers the Real Estate sector, focusing on stocks such as Equity Lifestyle, AvalonBay, and Sun Communities. According to TipRanks, Feldman has an average return of 0.1% and a 55.93% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eastgroup Properties with a $191.45 average price target, a 4.78% upside from current levels. In a report released on February 15, RBC Capital also maintained a Hold rating on the stock with a $190.00 price target.
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Based on Eastgroup Properties’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $149.15 million and a net profit of $63.46 million. In comparison, last year the company earned a revenue of $129.84 million and had a net profit of $38.67 million
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGP in relation to earlier this year.
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Eastgroup Properties (EGP) Company Description:
EastGroup Properties, Inc. is an equity real estate investment trust, which engages in the development, acquisition and operation of industrial properties in the United States. It operates through Industrial Properties segment. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina. The company was founded in 1969 and is headquartered in Ridgeland, MS.
Read More on EGP:
- EastGroup Properties price target raised to $190 from $180 at RBC Capital
- Bad News for Eastgroup Properties Stock: This New Risk Has Been Added
- EastGroup Properties price target raised to $198 from $188 at KeyBanc
- EastGroup Properties sees 2024 FFO $8.17-$8.37, consensus $8.28
- EastGroup Properties reports Q4 FFO $2.03, consensus $2.01
