EastGroup Properties (NYSE:EGP) Price Target Cut to $175.00 by Analysts at Barclays

EastGroup Properties (NYSE:EGP) had its price objective lowered by stock analysts at Barclays from $181.00 to $175.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 10.60% from the stock’s previous close.

Several other equities research analysts have also commented on EGP. Mizuho reaffirmed a “neutral” rating and issued a $185.00 price target on shares of EastGroup Properties in a report on Tuesday, April 2nd. Piper Sandler lowered their price target on shares of EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. started coverage on shares of EastGroup Properties in a research report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 price objective for the company. Truist Financial upped their price objective on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada upped their price objective on shares of 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $187.60.

EastGroup Properties Stock Performance

NYSE:EGP traded up $2.31 during mid-day trading on Monday, hitting $158.23. The company’s stock had a trading volume of 62,759 shares, compared to its average volume of 287,159. EastGroup Properties has a 1 year low of $154.75 and a 1 year high of $188.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 2.47 and a beta of 0.93. The business’s fifty day moving average is $174.81 and its two-hundred day moving average is $175.09.

Insider Activity at EastGroup Properties

In related news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the sale, the chief financial officer now owns 102,617 shares of the company’s stock, valued at approximately $18,752,230.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of EastGroup Properties

Several large investors have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC grew its stake in EastGroup Properties by 24.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 334 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 65 shares in the last quarter. Venturi Wealth Management LLC grew its stake in EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in EastGroup Properties by 0.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,087 shares of the real estate investment trust’s stock valued at $1,680,000 after acquiring an additional 67 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in shares of EastGroup Properties by 18.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 72 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in shares of EastGroup Properties by 0.8% in the 3rd quarter. UniSuper Management Pty Ltd now owns 12,500 shares of the real estate investment trust’s stock valued at $2,082,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Company Profile

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.