Eastgroup Properties Inc (NYSE:EGP) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $88.00.

EGP has been the topic of a number of recent research reports. KeyCorp restated a “hold” rating on shares of Eastgroup Properties in a research note on Sunday, September 24th. ValuEngine downgraded Eastgroup Properties from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Monday, October 2nd. Cantor Fitzgerald restated a “hold” rating and issued a $79.00 target price on shares of Eastgroup Properties in a research note on Friday, October 20th. Finally, DA Davidson set a $100.00 target price on Eastgroup Properties and gave the stock a “hold” rating in a research note on Friday, October 20th.

In related news, Director David H. Hoster II sold 12,250 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $94.10, for a total value of $1,152,725.00. Following the completion of the transaction, the director now owns 173,880 shares of the company’s stock, valued at approximately $16,362,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Corkern sold 3,586 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $91.75, for a total value of $329,015.50. The disclosure for this sale can be found here. Insiders sold a total of 22,668 shares of company stock valued at $2,105,037 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC acquired a new position in Eastgroup Properties in the 3rd quarter worth about $115,000. Everence Capital Management Inc. acquired a new position in Eastgroup Properties in the 3rd quarter worth about $202,000. Riverhead Capital Management LLC raised its holdings in Eastgroup Properties by 25.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,500 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 500 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Eastgroup Properties in the 2nd quarter worth about $216,000. Finally, Advisor Group Inc. raised its holdings in Eastgroup Properties by 17.7% in the 2nd quarter. Advisor Group Inc. now owns 2,747 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 414 shares during the period. 96.20% of the stock is owned by institutional investors.

Eastgroup Properties (NYSE:EGP) traded up $1.43 during trading on Friday, reaching $84.88. The company’s stock had a trading volume of 175,510 shares, compared to its average volume of 183,023. The stock has a market cap of $2,938.15, a P/E ratio of 35.66, a PEG ratio of 4.45 and a beta of 0.99. Eastgroup Properties has a twelve month low of $67.69 and a twelve month high of $95.03.

Eastgroup Properties (NYSE:EGP) last issued its earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $68.74 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. research analysts predict that Eastgroup Properties will post 4.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.64 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.02%. Eastgroup Properties’s payout ratio is 107.56%.

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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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