EastGroup Properties (NYSE:EGP) Stock Rating Reaffirmed by Mizuho

EastGroup Properties (NYSE:EGPGet Free Report)‘s stock had its “neutral” rating reaffirmed by investment analysts at Mizuho in a report released on Tuesday, Benzinga reports. They presently have a $185.00 price target on the real estate investment trust’s stock. Mizuho’s target price suggests a potential upside of 4.97% from the stock’s previous close.

A number of other equities analysts have also issued reports on EGP. Barclays began coverage on shares of EastGroup Properties in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $181.00 target price on the stock. Royal Bank of Canada upped their target price on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. KeyCorp increased their price objective on shares of EastGroup Properties from $188.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, Truist Financial increased 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. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, EastGroup Properties currently has an average rating of “Hold” and a consensus target price of $188.23.

Read Our Latest Stock Analysis on EGP

EastGroup Properties Stock Performance

NYSE EGP opened at $176.24 on Tuesday. The stock has a market cap of $8.45 billion, a P/E ratio of 39.96, a PEG ratio of 2.85 and a beta of 0.93. The company’s 50-day simple moving average is $180.16 and its 200 day simple moving average is $175.30. EastGroup Properties has a twelve month low of $154.75 and a twelve month high of $188.85. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.64.

Insider Transactions at EastGroup Properties

In related news, CFO Brent Wood sold 2,500 shares of the firm’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 transaction, the chief financial officer now directly owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EastGroup Properties

Hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. increased its position in EastGroup Properties by 15.0% during the fourth quarter. Pacer Advisors Inc. now owns 61,527 shares of the real estate investment trust’s stock worth $11,293,000 after acquiring an additional 8,002 shares during the period. The Manufacturers Life Insurance Company increased its holdings in EastGroup Properties by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 272,447 shares of the real estate investment trust’s stock valued at $45,370,000 after buying an additional 9,160 shares during the period. Invesco Ltd. increased its holdings in EastGroup Properties by 12.7% in the 3rd quarter. Invesco Ltd. now owns 726,446 shares of the real estate investment trust’s stock valued at $120,975,000 after buying an additional 81,636 shares during the period. Vanguard Group Inc. increased its holdings in EastGroup Properties by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,532,176 shares of the real estate investment trust’s stock valued at $1,087,803,000 after buying an additional 81,798 shares during the period. Finally, California Public Employees Retirement System increased its holdings in EastGroup Properties by 4.5% in the 3rd quarter. California Public Employees Retirement System now owns 84,096 shares of the real estate investment trust’s stock valued at $14,005,000 after buying an additional 3,616 shares during the period. 92.14% of the stock is owned by institutional investors.

About EastGroup Properties

(Get Free Report)

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.

Recommended Stories

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.