Eastgroup Properties Inc (NYSE:EGP) has earned a consensus rating of “Hold” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $86.90.
EGP has been the topic of several research reports. Zacks Investment Research upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Wednesday, January 24th. Citigroup boosted their price objective on shares of Eastgroup Properties from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. ValuEngine upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Mizuho downgraded shares of Eastgroup Properties from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Finally, Sandler O’Neill restated a “buy” rating and set a $95.00 price objective on shares of Eastgroup Properties in a report on Wednesday, February 7th.
Eastgroup Properties (EGP) traded down $1.06 during trading on Tuesday, reaching $81.05. 233,368 shares of the company’s stock were exchanged, compared to its average volume of 243,161. Eastgroup Properties has a 52-week low of $69.90 and a 52-week high of $95.03. The firm has a market cap of $2,852.41, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92.
Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Eastgroup Properties had a net margin of 30.34% and a return on equity of 11.58%. The company had revenue of $71.36 million for the quarter, compared to the consensus estimate of $69.66 million. During the same quarter in the previous year, the firm posted $1.08 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. research analysts predict that Eastgroup Properties will post 4.51 earnings per share for the current year.
In related news, insider Bruce Corkern sold 3,586 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $91.75, for a total value of $329,015.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Fredric H. Gould bought 3,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average cost of $80.05 per share, for a total transaction of $240,150.00. Following the purchase, the director now owns 13,688 shares of the company’s stock, valued at $1,095,724.40. The disclosure for this purchase can be found here. In the last three months, insiders sold 19,136 shares of company stock worth $1,779,599. 2.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC bought a new stake in Eastgroup Properties in the fourth quarter valued at about $1,338,000. Vident Investment Advisory LLC bought a new stake in Eastgroup Properties during the fourth quarter worth about $229,000. Millennium Management LLC bought a new stake in Eastgroup Properties during the fourth quarter worth about $1,001,000. Meadow Creek Investment Management LLC grew its stake in Eastgroup Properties by 25.4% during the fourth quarter. Meadow Creek Investment Management LLC now owns 5,032 shares of the real estate investment trust’s stock worth $445,000 after buying an additional 1,020 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Eastgroup Properties by 8.9% during the fourth quarter. Raymond James & Associates now owns 48,725 shares of the real estate investment trust’s stock worth $4,306,000 after buying an additional 3,985 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.
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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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