Truist Financial Raises EastGroup Properties (NYSE:EGP) Price Target to $205.00

EastGroup Properties (NYSE:EGP) had its price objective lifted by stock analysts at Truist Financial from $203.00 to $205.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would indicate a potential upside of 7.04% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Barclays raised shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft lowered EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price objective on the stock. in a research report on Monday, January 5th. Citigroup boosted their target price on EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. UBS Group set a $200.00 price target on EastGroup Properties in a research note on Thursday, December 4th. Finally, BNP Paribas Exane raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective for the company in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.18.

EastGroup Properties Stock Down 0.7%

Shares of NYSE EGP opened at $191.52 on Tuesday. The firm’s 50-day simple moving average is $183.69 and its 200 day simple moving average is $176.03. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.11. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. EastGroup Properties has a 12-month low of $137.67 and a 12-month high of $193.68.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of EastGroup Properties in the 4th quarter valued at $281,054,000. Principal Financial Group Inc. lifted its holdings in EastGroup Properties by 43.5% during the third quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after acquiring an additional 602,253 shares in the last quarter. Invesco Ltd. grew its stake in EastGroup Properties by 89.5% in the second quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust’s stock valued at $155,015,000 after acquiring an additional 438,117 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of EastGroup Properties by 98.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 566,295 shares of the real estate investment trust’s stock worth $100,880,000 after acquiring an additional 280,819 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of EastGroup Properties by 619.9% in the third quarter. Centersquare Investment Management LLC now owns 297,319 shares of the real estate investment trust’s stock worth $50,324,000 after acquiring an additional 256,019 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.