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

EastGroup Properties (NYSE:EGP) had its target price trimmed by Barclays from $181.00 to $175.00 in a report released on Monday, Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada upped their target price on shares of EastGroup Properties from $180.00 to $190.00 and gave the stock a sector perform rating in a report on Friday, February 16th. Truist Financial upped their target price on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a hold rating in a report on Tuesday, February 20th. BMO Capital Markets initiated coverage on shares of EastGroup Properties in a report on Monday, April 22nd. They set an outperform rating and a $190.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of EastGroup Properties in a report on Thursday, April 11th. They issued a neutral rating and a $190.00 price target for the company. Finally, Mizuho reaffirmed a neutral rating and issued a $185.00 price target on shares of EastGroup Properties in a report on Tuesday, April 2nd. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $185.56.

EastGroup Properties Trading Up 1.0 %

NYSE:EGP opened at $156.86 on Monday. The firm has a market capitalization of $7.55 billion, a price-to-earnings 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. The business has a fifty day moving average price of $173.79 and a 200-day moving average price of $174.96. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio (DPR) is presently 110.20%.

Insider Transactions at EastGroup Properties

In other news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On EastGroup Properties

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of EastGroup Properties during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its stake in shares of EastGroup Properties by 51.6% during the fourth 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 bought a new position in shares of EastGroup Properties during the fourth quarter valued at approximately $37,000. Mather Group LLC. bought a new position in shares of EastGroup Properties during the first quarter valued at approximately $42,000. Finally, Tucker Asset Management LLC bought a new position in shares of EastGroup Properties during the third quarter valued at approximately $44,000. 92.14% of the stock is owned by hedge funds and other 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.