EastGroup Properties (NYSE:EGP) PT Lowered to $175.00

EastGroup Properties (NYSE:EGP) had its price objective dropped by analysts at Barclays from $181.00 to $175.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would suggest a potential upside of 12.56% from the stock’s current price.

Several other equities research analysts have also commented on EGP. Royal Bank of Canada upped their price objective on EastGroup Properties from $180.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. started coverage on EastGroup Properties in a research report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 price objective on the stock. Piper Sandler lowered their price objective on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday. Mizuho restated a “neutral” rating and issued a $185.00 price objective on shares of EastGroup Properties in a research report on Tuesday, April 2nd. Finally, Truist Financial upped their price objective on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $186.27.

EastGroup Properties Price Performance

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

Insider Buying and Selling at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 102,617 shares in the company, valued at approximately $18,752,230.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGP. GAMMA Investing LLC purchased a new position in EastGroup Properties in the 4th quarter valued at $31,000. Venturi Wealth Management LLC lifted its holdings in EastGroup Properties by 51.6% in the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. ZRC Wealth Management LLC purchased a new position in EastGroup Properties in the 4th quarter valued at $37,000. Mather Group LLC. acquired a new stake in shares of EastGroup Properties in the 1st quarter worth $42,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of EastGroup Properties in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

About EastGroup Properties

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.