EastGroup Properties (NYSE:EGP) PT Lowered to $200.00

EastGroup Properties (NYSE:EGP) had its price target dropped by analysts at Piper Sandler from $215.00 to $200.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective would indicate a potential upside of 28.64% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Barclays assumed coverage on shares of EastGroup Properties in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $181.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Evercore ISI reduced their target price on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. assumed coverage on shares of EastGroup Properties in a research note on Thursday, April 11th. They issued a “neutral” rating and a $190.00 target price for the company. Finally, KeyCorp lifted their target price on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, EastGroup Properties has a consensus rating of “Hold” and an average price target of $186.27.

EastGroup Properties Stock Performance

Shares of EGP opened at $155.47 on Monday. The company’s 50 day moving average price is $174.31 and its 200 day moving average price is $175.03. EastGroup Properties has a 52 week low of $154.75 and a 52 week high of $188.85. The company has a market capitalization of $7.48 billion, a PE ratio of 33.70, a PEG ratio of 2.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10.

Insider Transactions at EastGroup Properties

In other news, CFO Brent Wood sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EastGroup Properties

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in EastGroup Properties during the 4th quarter valued at $31,000. Venturi Wealth Management LLC increased its position in shares of EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. ZRC Wealth Management LLC acquired a new stake in shares of EastGroup Properties during the 4th quarter worth about $37,000. Mather Group LLC. acquired a new stake in EastGroup Properties in the 1st quarter valued at about $42,000. Finally, Tucker Asset Management LLC acquired a new stake in EastGroup Properties in the 3rd quarter valued at about $44,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, 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.