EastGroup Properties (NYSE:EGP) Receives New Coverage from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of EastGroup Properties (NYSE:EGPFree Report) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $190.00 target price on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on EGP. Truist Financial increased their price target on EastGroup Properties from $186.00 to $188.00 and gave the stock a hold rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. began coverage on EastGroup Properties in a report on Thursday, April 11th. They issued a neutral rating and a $190.00 price target for the company. KeyCorp increased their price target on EastGroup Properties from $188.00 to $198.00 and gave the stock an overweight rating in a report on Monday, February 12th. Barclays began coverage on EastGroup Properties in a report on Wednesday, March 27th. They issued an equal weight rating and a $181.00 price target for the company. Finally, Mizuho restated a neutral rating and issued a $185.00 price target on shares of EastGroup Properties in a report on Tuesday, April 2nd. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, EastGroup Properties has an average rating of Hold and a consensus price target of $188.47.

Get Our Latest Stock Analysis on EGP

EastGroup Properties Trading Down 4.8 %

NYSE:EGP opened at $157.75 on Monday. EastGroup Properties has a 1-year low of $154.75 and a 1-year high of $188.85. The business’s 50-day moving average price is $176.44 and its two-hundred day moving average price is $175.37. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.59 and a beta of 0.93.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.22%. EastGroup Properties’s payout ratio is presently 115.19%.

Insider Buying and Selling at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the transaction, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in EastGroup Properties in the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC grew its stake in EastGroup Properties by 51.6% in the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. ZRC Wealth Management LLC acquired a new stake in shares of EastGroup Properties in the fourth quarter valued at approximately $37,000. Mather Group LLC. acquired a new stake in shares of EastGroup Properties in the first quarter valued at approximately $42,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of EastGroup Properties in the third quarter valued at approximately $44,000. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Company Profile

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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.

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Analyst Recommendations for EastGroup Properties (NYSE:EGP)

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