ValuEngine upgraded shares of Eastgroup Properties (NYSE:EGP) from a hold rating to a buy rating in a research report sent to investors on Wednesday.
Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Eastgroup Properties from a buy rating to a hold rating in a report on Wednesday, January 31st. SunTrust Banks raised Eastgroup Properties from a sell rating to a hold rating in a report on Monday, January 22nd. Morgan Stanley reaffirmed an equal weight rating and issued a $82.00 price target on shares of Eastgroup Properties in a report on Thursday, December 14th. Mizuho reaffirmed a hold rating and issued a $90.00 price target on shares of Eastgroup Properties in a report on Sunday, February 4th. Finally, Sandler O’Neill reaffirmed a buy rating and issued a $95.00 price target on shares of Eastgroup Properties in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $87.42.
Eastgroup Properties (EGP) opened at $84.16 on Wednesday. Eastgroup Properties has a 12 month low of $69.90 and a 12 month high of $95.03. The company has a market capitalization of $2,970.00, a PE ratio of 34.49, a price-to-earnings-growth ratio of 4.28 and a beta of 0.95.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, March 21st will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, March 20th. This represents a $2.56 annualized dividend and a dividend yield of 3.04%. Eastgroup Properties’s dividend payout ratio is presently 104.92%.
In related news, Director Fredric H. Gould bought 3,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were acquired at an average cost of $80.05 per share, with a total value of $240,150.00. Following the completion of the acquisition, the director now owns 13,688 shares of the company’s stock, valued at approximately $1,095,724.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of EGP. SeaCrest Wealth Management LLC purchased a new stake in Eastgroup Properties during the fourth quarter valued at $148,000. MML Investors Services LLC bought a new position in shares of Eastgroup Properties in the fourth quarter worth about $218,000. Vident Investment Advisory LLC bought a new position in shares of Eastgroup Properties in the fourth quarter worth about $229,000. AE Wealth Management LLC bought a new position in shares of Eastgroup Properties in the third quarter worth about $239,000. Finally, Connable Office Inc. bought a new position in shares of Eastgroup Properties in the fourth quarter worth about $258,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.
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Eastgroup Properties Company Profile
EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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