EastGroup Properties (NYSE:EGP) Earns “Sector Weight” Rating from KeyCorp

EastGroup Properties (NYSE:EGP)‘s stock had its “sector weight” rating reiterated by analysts at KeyCorp in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports.

EGP has been the subject of a number of other research reports. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Barclays decreased their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. Morgan Stanley boosted their target price on EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. Wedbush reissued an “outperform” rating and issued a $209.00 price objective on shares of EastGroup Properties in a research note on Friday, October 25th. Finally, Wells Fargo & Company cut their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.80.

EastGroup Properties Trading Down 3.9 %

NYSE EGP opened at $161.20 on Tuesday. The firm has a market capitalization of $7.98 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 2.22 and a beta of 0.99. The company has a 50-day simple moving average of $173.74 and a 200-day simple moving average of $177.85. EastGroup Properties has a one year low of $155.23 and a one year high of $192.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.97). The firm had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.95 EPS. On average, equities analysts forecast that EastGroup Properties will post 8.36 earnings per share for the current year.

Hedge Funds Weigh In On EastGroup Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of EastGroup Properties by 67.9% during the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after purchasing an additional 629,827 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in EastGroup Properties by 355.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock valued at $73,158,000 after buying an additional 305,555 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of EastGroup Properties in the second quarter worth about $35,131,000. Millennium Management LLC increased its holdings in shares of EastGroup Properties by 202.1% during the 2nd quarter. Millennium Management LLC now owns 188,336 shares of the real estate investment trust’s stock valued at $32,036,000 after acquiring an additional 125,991 shares during the last quarter. Finally, Vision Capital Corp bought a new position in shares of EastGroup Properties in the 3rd quarter valued at approximately $18,308,000. Institutional investors 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.