Analysts Set EastGroup Properties, Inc. (NYSE:EGP) PT at $182.41

Shares of EastGroup Properties, Inc. (NYSE:EGP) have received a consensus rating of “Hold” from the sixteen analysts that are covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $182.41.

Several brokerages have recently commented on EGP. Piper Sandler lowered their target price on shares of EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. BNP Paribas started coverage on shares of EastGroup Properties in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $167.00 price objective on the stock. BMO Capital Markets started coverage on shares of EastGroup Properties in a research note on Monday, April 22nd. They issued an “outperform” rating and a $190.00 price objective on the stock. Barclays decreased their price objective on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Finally, Mizuho decreased their price objective on shares of EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st.

EastGroup Properties Stock Up 1.3 %

Shares of EGP opened at $170.10 on Thursday. EastGroup Properties has a 12 month low of $154.75 and a 12 month high of $188.85. The firm’s 50 day moving average is $163.65 and its 200-day moving average is $173.82. The stock has a market capitalization of $8.19 billion, a PE ratio of 36.90, a P/E/G ratio of 2.64 and a beta of 0.98. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.99%. EastGroup Properties’s dividend payout ratio (DPR) is presently 110.20%.

Hedge Funds Weigh In On EastGroup Properties

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in EastGroup Properties by 30.2% in the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 80 shares during the period. Boston Partners lifted its holdings in EastGroup Properties by 26.1% in the first quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock valued at $171,399,000 after buying an additional 197,427 shares during the period. Atria Investments Inc lifted its holdings in EastGroup Properties by 48.9% in the first quarter. Atria Investments Inc now owns 11,389 shares of the real estate investment trust’s stock valued at $2,047,000 after buying an additional 3,740 shares during the period. Zimmer Partners LP lifted its holdings in EastGroup Properties by 465.6% in the first quarter. Zimmer Partners LP now owns 200,558 shares of the real estate investment trust’s stock valued at $36,054,000 after buying an additional 165,100 shares during the period. Finally, Tidal Investments LLC lifted its holdings in EastGroup Properties by 30.4% in the first quarter. Tidal Investments LLC now owns 18,316 shares of the real estate investment trust’s stock valued at $3,293,000 after buying an additional 4,271 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.