Share on StockTwits

Shares of Eastgroup Properties (NYSE:EGP) have been given an average recommendation of “Hold” by the eight analysts that are presently covering the company, American Banking News.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $64.82.

In other Eastgroup Properties news, Director H C. Bailey, Jr. sold 1,745 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.42, for a total transaction of $112,412.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

EGP has been the subject of a number of recent research reports. Analysts at Goldman Sachs initiated coverage on shares of Eastgroup Properties in a research note on Thursday. They set a “buy” rating and a $74.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Eastgroup Properties in a research note on Thursday, June 19th. They now have a $65.00 price target on the stock, up previously from $63.50. Finally, analysts at Stifel Nicolaus downgraded shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. They now have a $68.00 price target on the stock.

Eastgroup Properties (NYSE:EGP) traded down 0.02% on Thursday, hitting $63.71. 74,415 shares of the company’s stock traded hands. Eastgroup Properties has a one year low of $54.98 and a one year high of $66.24. The stock’s 50-day moving average is $63.42 and its 200-day moving average is $61.39. The company has a market cap of $1.977 billion and a price-to-earnings ratio of 57.46.

Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.82 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.82. The company had revenue of $52.80 million for the quarter, compared to the consensus estimate of $53.29 million. During the same quarter last year, the company posted $0.76 earnings per share. Eastgroup Properties’s revenue was up 9.5% compared to the same quarter last year. Analysts expect that Eastgroup Properties will post $3.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Friday, June 20th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, June 18th.

EastGroup Properties, Inc (NYSE:EGP) is an equity real estate investment trust (REIT).

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.