EastGroup Properties, Inc. (NYSE:EGP) Given Consensus Recommendation of “Hold” by Analysts

EastGroup Properties, Inc. (NYSE:EGP) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $147.50.

Several analysts have recently issued reports on EGP shares. BTIG Research increased their target price on EastGroup Properties from $158.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, April 22nd. Zacks Investment Research lowered EastGroup Properties from a “buy” rating to a “hold” rating in a research note on Thursday, February 18th. Mizuho raised their price objective on EastGroup Properties from $145.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, April 21st. Finally, Wells Fargo & Company raised their price objective on EastGroup Properties from $138.00 to $148.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 31st. They noted that the move was a valuation call.

In other news, EVP John F. Coleman sold 5,760 shares of the firm’s stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $156.74, for a total transaction of $902,822.40. Following the completion of the transaction, the executive vice president now directly owns 91,479 shares in the company, valued at $14,338,418.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Fieldpoint Private Securities LLC purchased a new position in shares of EastGroup Properties during the fourth quarter valued at approximately $25,000. Schroder Investment Management Group purchased a new position in EastGroup Properties in the fourth quarter worth $25,000. Better Money Decisions LLC purchased a new position in EastGroup Properties in the first quarter worth $28,000. Perennial Advisors LLC purchased a new position in EastGroup Properties in the fourth quarter worth $69,000. Finally, Montag A & Associates Inc. purchased a new position in EastGroup Properties in the fourth quarter worth $95,000. 92.55% of the stock is owned by hedge funds and other institutional investors.

Shares of EGP traded down $2.20 during trading hours on Tuesday, hitting $152.87. 129,919 shares of the company were exchanged, compared to its average volume of 170,750. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 50.02, a P/E/G ratio of 3.81 and a beta of 0.72. EastGroup Properties has a fifty-two week low of $94.38 and a fifty-two week high of $159.54. The firm’s fifty day moving average is $150.55 and its 200 day moving average is $141.60.

EastGroup Properties (NYSE:EGP) last released its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.70). The company had revenue of $97.90 million for the quarter, compared to analyst estimates of $94.62 million. EastGroup Properties had a return on equity of 9.94% and a net margin of 33.84%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $1.31 earnings per share. Analysts expect that EastGroup Properties will post 5.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were given a $0.79 dividend. The ex-dividend date was Tuesday, March 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $0.66. This represents a $3.16 annualized dividend and a yield of 2.07%. EastGroup Properties’s dividend payout ratio (DPR) is currently 63.45%.

EastGroup Properties Company Profile

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.

Recommended Story: Momentum Indicators

Analyst Recommendations for EastGroup Properties (NYSE:EGP)

Receive News & Ratings for EastGroup Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EastGroup Properties and related companies with MarketBeat.com's FREE daily email newsletter.