EastGroup Properties (NYSE:EGP) PT Lowered to $178.00 at Evercore ISI

EastGroup Properties (NYSE:EGP) had its price target reduced by Evercore ISI from $190.00 to $178.00 in a research report report published on Thursday, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on EGP. Barclays assumed coverage on EastGroup Properties in a research report on Wednesday, March 27th. They issued an equal weight rating and a $181.00 target price for the company. KeyCorp lifted their price objective on EastGroup Properties from $188.00 to $198.00 and gave the company an overweight rating in a research note on Monday, February 12th. 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. JPMorgan Chase & Co. started coverage on EastGroup Properties in a research note on Thursday, April 11th. They issued a neutral rating and a $190.00 price objective for the company. Finally, Mizuho reiterated a neutral rating and issued a $185.00 price objective on shares of EastGroup Properties in a research note on Tuesday, April 2nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $189.00.

EastGroup Properties Trading Up 0.4 %

NYSE EGP traded up $0.68 during trading on Thursday, hitting $156.42. The stock had a trading volume of 86,747 shares, compared to its average volume of 287,261. The company has a market capitalization of $7.51 billion, a PE ratio of 33.89, a PEG ratio of 2.50 and a beta of 0.93. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $175.93 and a 200 day moving average price of $175.25. EastGroup Properties has a twelve month low of $154.75 and a twelve month high of $188.85.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Wednesday, March 27th. EastGroup Properties’s payout ratio is currently 110.20%.

Insider Activity

In related news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the transaction, the chief financial officer now owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in EastGroup Properties during the fourth quarter worth $31,000. Venturi Wealth Management LLC boosted its position in EastGroup Properties by 51.6% during the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. ZRC Wealth Management LLC purchased a new stake in EastGroup Properties during the fourth quarter worth $37,000. Mather Group LLC. purchased a new stake in EastGroup Properties during the first quarter worth $42,000. Finally, Tucker Asset Management LLC purchased a new stake in EastGroup Properties during the third quarter worth $44,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

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.