A number of other research analysts have also issued reports on EGP. Truist Financial dropped their target price on EastGroup Properties from $200.00 to $175.00 and set a hold rating on the stock in a report on Tuesday, May 31st. Wells Fargo & Company decreased their price target on EastGroup Properties from $184.00 to $170.00 and set an equal weight rating on the stock in a research note on Monday, June 6th. Mizuho decreased their price target on EastGroup Properties from $215.00 to $180.00 and set a na rating on the stock in a research note on Tuesday, May 17th. StockNews.com initiated coverage on EastGroup Properties in a research note on Thursday, March 31st. They issued a hold rating on the stock. Finally, Piper Sandler decreased their price target on EastGroup Properties from $230.00 to $210.00 and set an overweight rating on the stock in a research note on Monday, June 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $200.56.
NYSE:EGP opened at $157.59 on Monday. The firm has a market cap of $6.57 billion, a P/E ratio of 33.25, a PEG ratio of 2.92 and a beta of 0.88. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.87. The stock’s 50 day simple moving average is $170.89 and its 200-day simple moving average is $191.65. EastGroup Properties has a 12-month low of $148.33 and a 12-month high of $229.84.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $4.40 dividend on an annualized basis and a yield of 2.79%. EastGroup Properties’s payout ratio is 92.83%.
A number of institutional investors and hedge funds have recently bought and sold shares of EGP. Renaissance Technologies LLC purchased a new stake in EastGroup Properties during the third quarter worth $3,733,000. Franklin Resources Inc. purchased a new stake in EastGroup Properties during the third quarter worth $386,000. Morgan Stanley lifted its position in shares of EastGroup Properties by 13.2% in the third quarter. Morgan Stanley now owns 136,112 shares of the real estate investment trust’s stock valued at $22,681,000 after acquiring an additional 15,889 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of EastGroup Properties in the third quarter valued at $265,000. Finally, Man Group plc lifted its position in shares of EastGroup Properties by 130.0% in the third quarter. Man Group plc now owns 4,600 shares of the real estate investment trust’s stock valued at $766,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors own 91.02% of the company’s stock.
About EastGroup Properties (Get Rating)
EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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.
- Get a free copy of the StockNews.com research report on EastGroup Properties (EGP)
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