KeyCorp Lowers EastGroup Properties (NYSE:EGP) Price Target to $178.00

EastGroup Properties (NYSE:EGP) had its target price lowered by equities research analysts at KeyCorp from $198.00 to $178.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s target price would indicate a potential upside of 13.48% from the stock’s current price.

EGP has been the subject of a number of other research reports. Truist Financial lifted their price target on EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Mizuho reiterated a “neutral” rating and set a $185.00 price target on shares of EastGroup Properties in a research note on Tuesday, April 2nd. Barclays cut their price target on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating for the company in a research note on Monday. Royal Bank of Canada lifted their price target on EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Finally, BMO Capital Markets started coverage on EastGroup Properties in a research note on Monday, April 22nd. They set an “outperform” rating and a $190.00 price target for the company. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and an average price target of $185.56.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $156.86 on Tuesday. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 2.50 and a beta of 0.93. The business has a 50-day simple moving average of $173.79 and a 200 day simple moving average of $174.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10.

Insider Activity at EastGroup Properties

In other EastGroup Properties 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 transaction of $456,850.00. Following the sale, the chief financial officer now owns 102,617 shares of the company’s stock, valued at approximately $18,752,230.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On EastGroup Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC bought a new stake in EastGroup Properties during the 4th quarter valued at $31,000. Venturi Wealth Management LLC raised its holdings in 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 valued at $36,000 after acquiring an additional 66 shares during the period. ZRC Wealth Management LLC bought a new stake in EastGroup Properties during the 4th quarter valued at $37,000. Mather Group LLC. bought a new stake in EastGroup Properties during the 1st quarter valued at $42,000. Finally, Tucker Asset Management LLC bought a new stake in EastGroup Properties during the 3rd quarter valued at $44,000. Institutional investors own 92.14% of the company’s stock.

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.