EastGroup Properties (NYSE:EGP) Now Covered by Analysts at BMO Capital Markets

Stock analysts at BMO Capital Markets started coverage on shares of EastGroup Properties (NYSE:EGP) in a research note issued on Monday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $190.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ target price would suggest a potential upside of 19.29% from the stock’s current price.

Several other research analysts have also recently commented on EGP. Mizuho reiterated a “neutral” rating and issued a $185.00 price target on shares of EastGroup Properties in a research note on Tuesday, April 2nd. KeyCorp upped their price objective on EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Barclays assumed coverage on EastGroup Properties in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $181.00 price objective on the stock. Truist Financial upped their price objective on EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. assumed coverage on EastGroup Properties in a research note on Thursday, April 11th. They set a “neutral” rating and a $190.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $188.47.

EastGroup Properties Trading Up 0.0 %

NYSE:EGP opened at $159.27 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.28. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85. The business’s 50-day simple moving average is $177.23 and its 200 day simple moving average is $175.40. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.52 and a beta of 0.93.

Insider Buying and Selling

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

Hedge Funds Weigh In On EastGroup Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGP. American Century Companies Inc. bought a new position in EastGroup Properties in the 1st quarter worth approximately $354,000. Group One Trading L.P. bought a new position in EastGroup Properties during the 1st quarter valued at $41,000. Private Advisor Group LLC boosted its stake in EastGroup Properties by 10.3% during 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 purchasing an additional 113 shares in the last quarter. Allianz Asset Management GmbH bought a new position in EastGroup Properties during the 1st quarter valued at $12,520,000. Finally, Vanguard Group Inc. boosted its stake in 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 purchasing an additional 133,344 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

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.