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

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

EGP has been the subject of a number of other reports. BMO Capital Markets assumed coverage on shares of EastGroup Properties in a research report on Monday, April 22nd. They issued an outperform rating and a $190.00 price objective for the company. Evercore ISI cut their price target on shares of EastGroup Properties from $190.00 to $178.00 and set an in-line rating for the company in a report on Thursday, April 25th. Mizuho reaffirmed a neutral rating and issued a $185.00 price target on shares of EastGroup Properties in a report on Tuesday, April 2nd. KeyCorp increased their price objective on EastGroup Properties from $188.00 to $198.00 and gave the stock an overweight rating in a research report on Monday, February 12th. Finally, Royal Bank of Canada boosted their target price 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $187.60.

EastGroup Properties Stock Up 1.2 %

EastGroup Properties stock opened at $157.82 on Monday. The firm has a 50 day simple moving average of $174.31 and a 200 day simple moving average of $175.03. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63. EastGroup Properties has a 1-year low of $154.75 and a 1-year high of $188.85. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 2.47 and a beta of 0.93.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $1.27 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.22%. EastGroup Properties’s payout ratio is 110.20%.

Insider Activity

In related news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction 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 transaction, the chief financial officer now owns 102,617 shares in the company, valued at approximately $18,752,230.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 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 increased its stake 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 during the period. ZRC Wealth Management LLC bought a new stake in EastGroup Properties during the 4th quarter valued at $37,000. Mather Group LLC. purchased a new stake in EastGroup Properties during the 1st quarter valued at $42,000. Finally, Tucker Asset Management LLC bought a new stake in EastGroup Properties in the 3rd quarter worth $44,000. 92.14% of the stock is currently owned by institutional investors.

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.