EastGroup Properties (NYSE:EGP) Given “Sector Weight” Rating at KeyCorp

EastGroup Properties (NYSE:EGP)‘s stock had its “sector weight” rating reaffirmed by KeyCorp in a research note issued on Tuesday.

Other equities analysts have also issued reports about the company. Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $175.00 to $200.00 in a research report on Thursday, September 5th. Morgan Stanley lifted their price objective on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. Truist Financial dropped their price target on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Evercore ISI raised their target price on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company decreased their price target on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.80.

EastGroup Properties Trading Down 0.9 %

EGP opened at $169.76 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. EastGroup Properties has a fifty-two week low of $155.23 and a fifty-two week high of $192.61. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.22 and a beta of 0.99. The company’s 50 day moving average price is $174.26 and its two-hundred day moving average price is $177.95.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). The business had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. As a group, research analysts predict that EastGroup Properties will post 8.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EGP. V Square Quantitative Management LLC lifted its position in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 61 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of EastGroup Properties by 10,400.0% in the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of EastGroup Properties during the 2nd quarter valued at about $66,000. GAMMA Investing LLC raised its holdings in shares of EastGroup Properties by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 255 shares in the last quarter. Finally, Quarry LP bought a new stake in EastGroup Properties in the 3rd quarter worth approximately $102,000. 92.14% of the stock is owned by institutional investors.

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.