EastGroup Properties, Inc. (NYSE:EGP) Receives $195.19 Average PT from Brokerages

Shares of EastGroup Properties, Inc. (NYSE:EGP) have received an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $195.1875.

Several equities analysts have recently issued reports on EGP shares. Truist Financial boosted their price objective on EastGroup Properties from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Barclays raised EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. Wall Street Zen cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “buy (b-)” rating on shares of EastGroup Properties in a research note on Monday, December 29th. Finally, KeyCorp raised shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Thursday, December 4th.

EastGroup Properties Trading Up 2.1%

Shares of NYSE:EGP opened at $181.23 on Friday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $181.60 and its 200 day moving average price is $173.74. The company has a market cap of $9.67 billion, a PE ratio of 38.07, a P/E/G ratio of 2.60 and a beta of 1.11. EastGroup Properties has a fifty-two week low of $137.67 and a fifty-two week high of $188.89.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.20 annualized dividend and a yield of 3.4%. EastGroup Properties’s payout ratio is presently 130.25%.

Insiders Place Their Bets

In other EastGroup Properties news, EVP Richard Reid Dunbar sold 2,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president directly owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its position in shares of EastGroup Properties by 18,900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 945 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after purchasing an additional 41,538 shares during the period. Jane Street Group LLC lifted its holdings in shares of EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after purchasing an additional 12,003 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after purchasing an additional 130 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of EastGroup Properties in the second quarter worth $524,000. Institutional investors own 92.14% of the company’s stock.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.