Eastgroup Properties (NYSE:EGP)‘s stock had its “hold” rating restated by equities research analysts at Mizuho in a research report issued to clients and investors on Sunday, February 4th. They presently have a $90.00 price objective on the real estate investment trust’s stock. Mizuho’s price target suggests a potential upside of 12.42% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. ValuEngine raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Bank of America increased their price target on Eastgroup Properties from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, January 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $82.00 target price on shares of Eastgroup Properties in a report on Thursday, December 14th. Finally, SunTrust Banks upgraded Eastgroup Properties from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $87.42.
Shares of Eastgroup Properties (NYSE EGP) opened at $80.06 on Friday. Eastgroup Properties has a 52-week low of $69.53 and a 52-week high of $95.03. The stock has a market cap of $2,764.30, a PE ratio of 18.85, a PEG ratio of 4.03 and a beta of 0.92.
Eastgroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Eastgroup Properties had a net margin of 30.34% and a return on equity of 11.76%. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $69.66 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities analysts anticipate that Eastgroup Properties will post 4.5 earnings per share for the current fiscal year.
In other news, insider Bruce Corkern sold 3,586 shares of Eastgroup Properties stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $91.75, for a total transaction of $329,015.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David H. Hoster II sold 12,250 shares of Eastgroup Properties stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $94.10, for a total value of $1,152,725.00. Following the sale, the director now owns 173,880 shares of the company’s stock, valued at approximately $16,362,108. The disclosure for this sale can be found here. Insiders have sold a total of 19,136 shares of company stock valued at $1,779,599 in the last ninety days. Insiders own 2.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position in Eastgroup Properties by 6.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,915 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 186 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Eastgroup Properties by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,562 shares of the real estate investment trust’s stock worth $3,231,000 after purchasing an additional 301 shares during the period. Amalgamated Bank increased its stake in Eastgroup Properties by 9.8% in the 2nd quarter. Amalgamated Bank now owns 4,603 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 412 shares during the period. Advisor Group Inc. increased its stake in Eastgroup Properties by 17.7% in the 2nd quarter. Advisor Group Inc. now owns 2,747 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 414 shares during the period. Finally, Comerica Bank increased its stake in Eastgroup Properties by 1.1% in the 3rd quarter. Comerica Bank now owns 49,407 shares of the real estate investment trust’s stock worth $4,437,000 after purchasing an additional 550 shares during the period. Institutional investors own 95.82% of the company’s stock.
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About Eastgroup Properties
EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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