Shares of EastGroup Properties, Inc. (NYSE:EGP) have been given a consensus rating of “Hold” by the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $86.70.

EGP has been the topic of several recent research reports. Bank of America lifted their price target on EastGroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Zacks Investment Research downgraded EastGroup Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 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 lifted their price target for the company from $90.00 to $104.00 in a research note on Tuesday, September 5th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $79.00 price target on shares of EastGroup Properties in a research note on Friday, October 20th.

EastGroup Properties (EGP) traded up $0.51 during mid-day trading on Thursday, reaching $94.08. The company’s stock had a trading volume of 202,210 shares, compared to its average volume of 197,976. The company has a market capitalization of $3,241.43, a price-to-earnings ratio of 22.42, a PEG ratio of 5.18 and a beta of 0.98. EastGroup Properties has a 52-week low of $67.24 and a 52-week high of $95.03.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.61. EastGroup Properties had a return on equity of 11.70% and a net margin of 30.03%. The firm had revenue of $68.75 million for the quarter, compared to analyst estimates of $68.74 million. During the same period in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts forecast that EastGroup Properties will post 4.23 earnings per share for the current year.

In related news, Director Hayden C. Eaves III sold 3,532 shares of EastGroup Properties stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $92.14, for a total value of $325,438.48. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of EastGroup Properties by 1.4% in the second quarter. Vanguard Group Inc. now owns 5,481,319 shares of the real estate investment trust’s stock valued at $459,334,000 after acquiring an additional 73,355 shares during the last quarter. BlackRock Inc. increased its position in shares of EastGroup Properties by 2.6% in the second quarter. BlackRock Inc. now owns 4,961,740 shares of the real estate investment trust’s stock valued at $415,793,000 after acquiring an additional 124,476 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of EastGroup Properties by 10.8% in the third quarter. JPMorgan Chase & Co. now owns 2,715,422 shares of the real estate investment trust’s stock valued at $239,934,000 after acquiring an additional 265,123 shares during the last quarter. State Street Corp increased its position in shares of EastGroup Properties by 3.8% in the second quarter. State Street Corp now owns 1,299,564 shares of the real estate investment trust’s stock valued at $108,905,000 after acquiring an additional 47,824 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its position in shares of EastGroup Properties by 42.9% in the second quarter. Uniplan Investment Counsel Inc. now owns 779,163 shares of the real estate investment trust’s stock valued at $46,349,000 after acquiring an additional 233,802 shares during the last quarter. 96.15% of the stock is currently 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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