EastGroup Properties (NYSE:EGP) Rating Increased to Hold at Wall Street Zen

EastGroup Properties (NYSE:EGP) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other analysts also recently weighed in on the stock. Morgan Stanley set a $205.00 price objective on shares of EastGroup Properties in a research report on Friday, January 16th. 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 research note on Monday, October 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of EastGroup Properties in a research note on Tuesday, January 20th. Royal Bank Of Canada set a $183.00 target price on EastGroup Properties and gave the company a “sector perform” rating in a report on Tuesday, October 28th. Finally, KeyCorp upgraded EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $200.00 price target for the company in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.19.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $181.58 on Friday. The company has a market cap of $9.69 billion, a P/E ratio of 38.15, a PEG ratio of 2.66 and a beta of 1.11. The firm has a fifty day moving average price of $181.64 and a 200 day moving average price of $173.83. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. EastGroup Properties has a 12 month low of $137.67 and a 12 month high of $188.89.

Insider Activity at EastGroup Properties

In related news, EVP Richard Reid Dunbar sold 2,000 shares of EastGroup Properties stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the executive vice president directly owned 20,630 shares in the company, valued at $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EGP. Jones Financial Companies Lllp boosted its position in shares of EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 945 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of EastGroup Properties by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after purchasing an additional 41,538 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after purchasing an additional 12,003 shares during the period. Focus Partners Wealth boosted its holdings in EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares in the last quarter. Finally, HB Wealth Management LLC boosted its holdings in EastGroup Properties by 38.0% during the second quarter. HB Wealth Management LLC now owns 2,338 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 644 shares in the last quarter. Hedge funds and other institutional investors 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.