EastGroup Properties, Inc. (NYSE:EGP) has received an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $82.22.

Several research analysts have recently commented on the stock. KeyCorp reissued a “neutral” rating on shares of EastGroup Properties in a research note on Friday, August 25th. ValuEngine raised shares of EastGroup Properties from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Sandler O’Neill raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their price objective for the company from $90.00 to $104.00 in a research note on Tuesday, September 5th. Zacks Investment Research lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation raised shares of EastGroup Properties from a “neutral” rating to a “buy” rating and raised their price objective for the company from $91.00 to $96.00 in a research note on Wednesday, August 16th.

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EastGroup Properties (EGP) traded down 0.14% during midday trading on Friday, hitting $90.71. 296,902 shares of the stock traded hands. EastGroup Properties has a 12-month low of $63.99 and a 12-month high of $91.51. The firm has a market cap of $3.10 billion, a P/E ratio of 38.02 and a beta of 0.98. The company’s 50-day moving average is $87.14 and its 200 day moving average is $81.20.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.60. EastGroup Properties had a net margin of 30.20% and a return on equity of 12.05%. The business had revenue of $67.90 million during the quarter, compared to analyst estimates of $67.16 million. During the same quarter last year, the firm posted $0.99 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts anticipate that EastGroup Properties will post $2.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.64 dividend. This is a boost from EastGroup Properties’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 14th. This represents a $2.56 annualized dividend and a yield of 2.82%. EastGroup Properties’s dividend payout ratio (DPR) is 108.02%.

Large investors have recently modified their holdings of the stock. Glen Harbor Capital Management LLC raised its holdings in EastGroup Properties by 5.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,760 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 88 shares in the last quarter. First Mercantile Trust Co. raised its holdings in EastGroup Properties by 1.8% in the second quarter. First Mercantile Trust Co. now owns 1,720 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 30 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in EastGroup Properties by 8.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,220 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 168 shares in the last quarter. Elkfork Partners LLC raised its holdings in EastGroup Properties by 5.3% in the first quarter. Elkfork Partners LLC now owns 2,240 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 112 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in EastGroup Properties by 31.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 600 shares in the last quarter. 97.98% of the stock is currently owned by hedge funds and other institutional investors.

About EastGroup Properties

EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

Analyst Recommendations for EastGroup Properties (NYSE:EGP)

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