EastGroup Properties Coverage Initiated by Analysts at ISI Group (EGP)
Investment analysts at ISI Group began coverage on shares of EastGroup Properties (NYSE:EGP) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Separately, analysts at Raymond James raised their price target on shares of EastGroup Properties from $68.00 to $71.00 in a research note to investors on Monday, October 21st. They now have an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. EastGroup Properties currently has a consensus rating of “Hold” and an average target price of $63.00.
EastGroup Properties (NYSE:EGP) opened at 57.73 on Friday. EastGroup Properties has a one year low of $52.47 and a one year high of $66.99. The stock’s 50-day moving average is $59.13 and its 200-day moving average is $59.64. The company has a market cap of $1.751 billion and a price-to-earnings ratio of 49.05.
EastGroup Properties (NYSE:EGP) last released its earnings data on Thursday, October 17th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The company had revenue of $51.25 million for the quarter, compared to the consensus estimate of $50.00 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that EastGroup Properties will post $3.23 earnings per share for the current fiscal year.
In other EastGroup Properties news, SVP Bruce Corkern sold 1,257 shares of the stock on the open market in a transaction dated Monday, December 30th. The shares were sold at an average price of $57.80, for a total value of $72,654.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
EastGroup Properties, Inc (NYSE:EGP) is an equity real estate investment trust (REIT).
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