EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Recommendation of “Hold” by Analysts

EastGroup Properties, Inc. (NYSE:EGP – Get Rating) has received an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $170.20.

Several research analysts have commented on EGP shares. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $150.00 to $158.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 22nd. KeyCorp lifted their target price on EastGroup Properties from $170.00 to $174.00 in a research report on Friday, April 28th. Robert W. Baird increased their target price on shares of EastGroup Properties from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. StockNews.com started coverage on shares of EastGroup Properties in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Mizuho upgraded shares of EastGroup Properties from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $185.00 in a research report on Monday, March 20th.

EastGroup Properties Price Performance

EGP stock opened at $161.02 on Wednesday. The company’s 50-day moving average price is $163.80 and its two-hundred day moving average price is $160.60. The firm has a market cap of $7.01 billion, a P/E ratio of 41.61, a P/E/G ratio of 3.31 and a beta of 0.93. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.88. EastGroup Properties has a 12 month low of $137.47 and a 12 month high of $180.25.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Thursday, March 30th. EastGroup Properties’s payout ratio is currently 129.20%.

Insider Transactions at EastGroup Properties

In related news, Director Hayden C. Eaves III sold 638 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $163.41, for a total value of $104,255.58. Following the completion of the sale, the director now directly owns 7,540 shares in the company, valued at $1,232,111.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On EastGroup Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. bought a new stake in shares of EastGroup Properties during the 1st quarter valued at about $354,000. Group One Trading L.P. acquired a new stake in shares of EastGroup Properties during the 1st quarter worth approximately $41,000. Private Advisor Group LLC increased its stake in shares of EastGroup Properties by 10.3% in the 1st quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 113 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of EastGroup Properties during the 1st quarter valued at $12,520,000. Finally, Vanguard Group Inc. lifted its position in shares of EastGroup Properties by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 6,172,033 shares of the real estate investment trust’s stock valued at $1,254,651,000 after acquiring an additional 133,344 shares during the period. Institutional investors and hedge funds own 89.48% of the company’s stock.

EastGroup Properties Company Profile

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust, which engages in the development, acquisition, and operation of industrial properties. The company was founded in 1969 and is headquartered in Ridgeland, MS.