EastGroup Properties (NYSE:EGP) PT Lowered to $178.00 at KeyCorp

EastGroup Properties (NYSE:EGP) had its price target cut by KeyCorp from $198.00 to $178.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on EGP. Mizuho reiterated a neutral rating and issued a $185.00 target price on shares of EastGroup Properties in a report on Tuesday, April 2nd. Evercore ISI reduced their target price on EastGroup Properties from $190.00 to $178.00 and set an in-line rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. assumed coverage on EastGroup Properties in a report on Thursday, April 11th. They issued a neutral rating and a $190.00 target price on the stock. BMO Capital Markets initiated coverage on EastGroup Properties in a report on Monday, April 22nd. They issued an outperform rating and a $190.00 target price on the stock. Finally, Truist Financial boosted their price target on EastGroup Properties from $186.00 to $188.00 and gave the company a hold rating in a research note on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $185.13.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $159.86 on Tuesday. The business’s 50 day simple moving average is $172.81 and its 200 day simple moving average is $174.72. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85. The stock has a market capitalization of $7.70 billion, a PE ratio of 34.68, a PEG ratio of 2.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Wednesday, March 27th. EastGroup Properties’s payout ratio is 110.20%.

Insider Transactions at EastGroup Properties

In other news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the transaction, the chief financial officer now directly owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On EastGroup Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in EastGroup Properties in the 4th quarter valued at $31,000. Venturi Wealth Management LLC raised its position in EastGroup Properties by 51.6% in the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in EastGroup Properties in the 4th quarter valued at $37,000. Mather Group LLC. purchased a new stake in EastGroup Properties in the 1st quarter valued at $42,000. Finally, Tucker Asset Management LLC bought a new position in EastGroup Properties in the 3rd quarter valued at $44,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

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.