EastGroup Properties (NYSE:EGP) PT Lowered to $156.00 at Evercore ISI

EastGroup Properties (NYSE:EGPGet Rating) had its price objective lowered by Evercore ISI from $159.00 to $156.00 in a research report report published on Monday, The Fly reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Several other brokerages have also recently weighed in on EGP. Jefferies Financial Group decreased their price objective on shares of EastGroup Properties from $200.00 to $144.00 and set a hold rating on the stock in a research note on Thursday, June 30th. Morgan Stanley dropped their price target on EastGroup Properties from $215.00 to $195.00 and set an equal weight rating for the company in a report on Monday, August 1st. Wells Fargo & Company raised their price target on EastGroup Properties from $170.00 to $178.00 and gave the company an equal weight rating in a report on Thursday, August 11th. Piper Sandler dropped their price target on EastGroup Properties to $200.00 in a report on Monday, July 4th. Finally, Truist Financial dropped their price target on EastGroup Properties from $200.00 to $175.00 and set a hold rating for the company in a report on Tuesday, May 31st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of Hold and a consensus price target of $189.80.

EastGroup Properties Stock Down 0.8 %

Shares of NYSE EGP opened at $151.99 on Monday. EastGroup Properties has a 52-week low of $148.33 and a 52-week high of $229.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.04 and a current ratio of 0.04. The business has a fifty day moving average of $166.73 and a two-hundred day moving average of $173.53. The stock has a market cap of $6.62 billion, a PE ratio of 29.57, a PEG ratio of 2.84 and a beta of 0.87.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.29%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.10. The ex-dividend date is Thursday, September 29th. EastGroup Properties’s dividend payout ratio (DPR) is presently 85.60%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its position in EastGroup Properties by 8.1% in the 1st quarter. Swiss National Bank now owns 96,187 shares of the real estate investment trust’s stock valued at $19,553,000 after buying an additional 7,200 shares during the last quarter. Pictet Asset Management SA boosted its position in shares of EastGroup Properties by 1.3% in the 4th quarter. Pictet Asset Management SA now owns 15,168 shares of the real estate investment trust’s stock worth $3,456,000 after purchasing an additional 189 shares during the last quarter. Credit Suisse AG boosted its position in shares of EastGroup Properties by 7.2% in the 4th quarter. Credit Suisse AG now owns 71,372 shares of the real estate investment trust’s stock worth $16,263,000 after purchasing an additional 4,815 shares during the last quarter. Sei Investments Co. boosted its position in shares of EastGroup Properties by 8.3% in the 4th quarter. Sei Investments Co. now owns 116,059 shares of the real estate investment trust’s stock worth $26,441,000 after purchasing an additional 8,871 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in shares of EastGroup Properties by 6.8% in the 1st quarter. Aptus Capital Advisors LLC now owns 15,785 shares of the real estate investment trust’s stock worth $3,209,000 after purchasing an additional 1,005 shares during the last quarter. 89.68% of the stock is currently owned by 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.

Further Reading

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