EastGroup Properties (NYSE:EGP) Coverage Initiated at BMO Capital Markets

Stock analysts at BMO Capital Markets initiated coverage on shares of EastGroup Properties (NYSE:EGP) in a report released on Monday, MarketBeat.com reports. The firm set an “outperform” rating and a $190.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective suggests a potential upside of 14.53% from the stock’s previous close.

Several other analysts have also commented on EGP. Truist Financial raised their price objective 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. JPMorgan Chase & Co. began coverage on shares of EastGroup Properties in a research note on Thursday, April 11th. They issued a “neutral” rating and a $190.00 price target for the company. KeyCorp lifted their target price on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Barclays started coverage on EastGroup Properties in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, EastGroup Properties currently has a consensus rating of “Hold” and an average target price of $188.47.

EastGroup Properties Price Performance

Shares of EGP stock opened at $165.89 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.28. The business’s 50 day moving average price is $176.44 and its 200-day moving average price is $175.37. The firm has a market cap of $7.96 billion, a P/E ratio of 37.62, a P/E/G ratio of 2.52 and a beta of 0.93. EastGroup Properties has a fifty-two week low of $154.75 and a fifty-two week high of $188.85.

Insider Activity at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now owns 102,617 shares of the company’s stock, valued at approximately $18,752,230.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in EastGroup Properties during the 4th quarter valued at approximately $31,000. Venturi Wealth Management LLC lifted its holdings in shares of 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 worth $36,000 after buying an additional 66 shares in the last quarter. ZRC Wealth Management LLC purchased a new position in shares of EastGroup Properties in the fourth quarter worth $37,000. Mather Group LLC. bought a new position in shares of EastGroup Properties during the first quarter worth $42,000. Finally, Tucker Asset Management LLC purchased a new position in EastGroup Properties during the third quarter valued at $44,000. Institutional investors own 92.14% of the company’s stock.

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.