Eastgroup Properties (EGP) Receives a Buy from Piper Sandler

In a report released today, Alexander Goldfarb from Piper Sandler maintained a Buy rating on Eastgroup Properties (EGP – Research Report), with a price target of $215.00. The company’s shares closed yesterday at $165.75.

Goldfarb covers the Real Estate sector, focusing on stocks such as Mid-America Apartment, UDR, and Eastgroup Properties. According to TipRanks, Goldfarb has an average return of 1.4% and a 51.90% success rate on recommended stocks.

In addition to Piper Sandler, Eastgroup Properties also received a Buy from BMO Capital’s John Kim in a report issued today. However, on the same day, Barclays assigned a Hold rating to Eastgroup Properties (NYSE: EGP).

EGP market cap is currently $7.95B and has a P/E ratio of 37.48.

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.