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

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

Several other equities research analysts also recently issued reports on the company. Piper Sandler lowered their price target on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Monday. Mizuho restated a “neutral” rating and issued a $185.00 price target on shares of EastGroup Properties in a report on Tuesday, April 2nd. Evercore ISI lowered their price target on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a report on Thursday, April 25th. Barclays lowered their price target on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating for the company in a report on Monday. Finally, 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. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $185.56.

EastGroup Properties Stock Up 1.0 %

Shares of EastGroup Properties stock opened at $156.86 on Tuesday. EastGroup Properties has a 1 year low of $154.75 and a 1 year high of $188.85. The business has a 50-day moving average of $173.79 and a two-hundred day moving average of $174.96. The company has a market capitalization of $7.55 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 2.50 and a beta of 0.93. 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 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 transaction 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 $18,752,230.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of EastGroup Properties

Several institutional investors and hedge funds have recently bought and sold shares of EGP. GAMMA Investing LLC bought a new stake in EastGroup Properties in the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC raised its stake in 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 buying an additional 66 shares during the period. ZRC Wealth Management LLC bought a new stake in EastGroup Properties in the fourth quarter valued at approximately $37,000. Mather Group LLC. bought a new stake in EastGroup Properties in the first quarter valued at approximately $42,000. Finally, Tucker Asset Management LLC bought a new stake in EastGroup Properties in the third quarter valued at approximately $44,000. 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.