EastGroup Properties (NYSE:EGP – Get Free Report) had its target price lifted by stock analysts at KeyCorp from $188.00 to $198.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s target price indicates a potential upside of 6.39% from the stock’s current price.
EGP has been the topic of a number of other research reports. Truist Financial boosted their price objective on EastGroup Properties from $175.00 to $186.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Raymond James upgraded EastGroup Properties from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research report on Friday, October 27th. Finally, Mizuho lowered EastGroup Properties from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a research report on Tuesday, December 5th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties has a consensus rating of “Hold” and an average target price of $188.55.
EastGroup Properties Stock Performance
Insiders Place Their Bets
In other news, EVP John F. Coleman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $173.05, for a total value of $173,050.00. Following the transaction, the executive vice president now directly owns 90,305 shares of the company’s stock, valued at approximately $15,627,280.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in EGP. Quarry LP bought a new stake in EastGroup Properties in the 2nd quarter valued at about $27,000. Financial Gravity Asset Management Inc. bought a new position in shares of EastGroup Properties in the second quarter valued at approximately $648,000. Dark Forest Capital Management LP grew its holdings in shares of EastGroup Properties by 3,380.0% in the first quarter. Dark Forest Capital Management LP now owns 174 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 169 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of EastGroup Properties in the fourth quarter valued at approximately $31,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of EastGroup Properties by 51.6% in the fourth 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 in the last quarter. 90.69% of the stock is 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.
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