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

EastGroup Properties (NYSE:EGP) had its target price upped by analysts at KeyCorp from $200.00 to $205.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price target indicates a potential upside of 7.99% from the company’s previous close.

A number of other brokerages also recently commented on EGP. iA Financial set a $200.00 price target on shares of EastGroup Properties in a report on Monday, October 27th. Evercore set a $188.00 price objective on EastGroup Properties in a research note on Friday, February 6th. Morgan Stanley set a $205.00 target price on EastGroup Properties in a research report on Friday, January 16th. Wall Street Zen downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price objective for the company. in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.89.

EastGroup Properties Trading Down 1.2%

Shares of EGP opened at $189.83 on Tuesday. The stock has a market capitalization of $10.13 billion, a PE ratio of 38.98, a P/E/G ratio of 2.80 and a beta of 1.11. The company’s fifty day moving average is $182.64 and its 200 day moving average is $175.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01. EastGroup Properties has a fifty-two week low of $137.67 and a fifty-two week high of $193.14.

Institutional Trading of EastGroup Properties

Several institutional investors and hedge funds have recently modified their holdings of EGP. Nordea Investment Management AB boosted its stake in EastGroup Properties by 13.4% in the 3rd quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock worth $13,912,000 after purchasing an additional 9,776 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of EastGroup Properties by 43.5% in 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 buying an additional 602,253 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of EastGroup Properties by 34.1% during the second quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock worth $2,289,000 after buying an additional 3,480 shares during the period. Tributary Capital Management LLC purchased a new stake in shares of EastGroup Properties during the third quarter valued at $1,294,000. Finally, Amalgamated Bank increased its position in shares of EastGroup Properties by 1.3% in the 2nd quarter. Amalgamated Bank now owns 23,972 shares of the real estate investment trust’s stock valued at $4,006,000 after acquiring an additional 299 shares during the period. 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.