EastGroup Properties, Inc. (NYSE:EGP) has earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $83.90.

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

Shares of EastGroup Properties (NYSE EGP) traded up 0.34% during trading on Wednesday, reaching $90.59. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 37.97 and a beta of 0.98. The company has a 50 day moving average of $89.01 and a 200-day moving average of $83.42. EastGroup Properties has a one year low of $63.99 and a one year high of $91.51.

EastGroup Properties (NYSE:EGP) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.60. EastGroup Properties had a return on equity of 12.05% and a net margin of 30.20%. The firm had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $67.16 million. During the same period in the previous year, the firm posted $0.99 EPS. EastGroup Properties’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts forecast that EastGroup Properties will post $2.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.64 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, September 14th. EastGroup Properties’s dividend payout ratio is currently 108.02%.

Several institutional investors have recently bought and sold shares of EGP. BlackRock Inc. lifted its holdings in shares of EastGroup Properties by 4,751.2% in the 1st quarter. BlackRock Inc. now owns 4,837,264 shares of the real estate investment trust’s stock valued at $355,684,000 after purchasing an additional 4,737,552 shares during the last quarter. Uniplan Investment Counsel Inc. lifted its holdings in shares of EastGroup Properties by 42.9% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 779,163 shares of the real estate investment trust’s stock valued at $46,349,000 after purchasing an additional 233,802 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of EastGroup Properties by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 5,407,964 shares of the real estate investment trust’s stock valued at $397,648,000 after purchasing an additional 229,011 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of EastGroup Properties by 25.9% in the 2nd quarter. Principal Financial Group Inc. now owns 669,443 shares of the real estate investment trust’s stock valued at $56,099,000 after purchasing an additional 137,591 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in shares of EastGroup Properties by 357.2% in the 2nd quarter. Citadel Advisors LLC now owns 159,506 shares of the real estate investment trust’s stock valued at $13,367,000 after purchasing an additional 124,621 shares during the last quarter. 96.42% of the stock is owned by institutional investors and hedge funds.

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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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