EastGroup Properties (NYSE:EGP) Receives Sector Weight Rating from KeyCorp

EastGroup Properties (NYSE:EGP)‘s stock had its “sector weight” rating reiterated by equities researchers at KeyCorp in a note issued to investors on Tuesday.

A number of other equities research analysts have also recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $209.00 price target on shares of EastGroup Properties in a report on Friday, October 25th. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $185.00 to $200.00 in a report on Wednesday, December 11th. Mizuho upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $175.00 to $200.00 in a report on Thursday, September 5th. Morgan Stanley lifted their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company cut their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.80.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $169.76 on Tuesday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $8.40 billion, a P/E ratio of 35.07, a PEG ratio of 2.22 and a beta of 0.99. The firm has a fifty day moving average of $174.26 and a 200-day moving average of $177.95. EastGroup Properties has a 52-week low of $155.23 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP) last released 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). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million for the quarter, compared to analysts’ expectations of $161.52 million. During the same period last year, the firm earned $1.95 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts predict that EastGroup Properties will post 8.36 EPS for the current year.

Hedge Funds Weigh In On EastGroup Properties

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC grew its position in shares of EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 61 shares during the last quarter. Quest Partners LLC increased its holdings in shares of EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the period. Headlands Technologies LLC acquired a new position in EastGroup Properties in the 2nd quarter valued at $66,000. GAMMA Investing LLC grew its stake in EastGroup Properties by 90.7% during the third quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 255 shares in the last quarter. Finally, Quarry LP acquired a new position in EastGroup Properties during the third quarter valued at approximately $102,000. 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.