Eastgroup Properties Inc (NYSE:EGP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Eastgroup Properties Inc (NYSE:EGP) have received a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $110.65.

A number of research analysts have commented on EGP shares. SunTrust Banks raised their price target on shares of Eastgroup Properties from $105.00 to $115.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Zacks Investment Research upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a research note on Monday, August 5th. Finally, Morgan Stanley raised their price target on shares of Eastgroup Properties from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, June 3rd.

EGP traded down $1.74 during midday trading on Friday, reaching $122.26. 162,452 shares of the company’s stock were exchanged, compared to its average volume of 295,679. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 5.20 and a beta of 0.80. Eastgroup Properties has a one year low of $87.69 and a one year high of $125.62. The business has a 50-day simple moving average of $120.51 and a two-hundred day simple moving average of $113.67.

In other Eastgroup Properties news, Director David H. Hoster II sold 942 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $110.83, for a total transaction of $104,401.86. Following the completion of the transaction, the director now owns 174,588 shares in the company, valued at $19,349,588.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Eastgroup Properties during the second quarter worth approximately $37,000. Tower Research Capital LLC TRC increased its holdings in shares of Eastgroup Properties by 1,773.3% during the second quarter. Tower Research Capital LLC TRC now owns 562 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 532 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Eastgroup Properties during the first quarter worth approximately $67,000. Private Capital Group LLC increased its holdings in shares of Eastgroup Properties by 45.1% during the first quarter. Private Capital Group LLC now owns 721 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 224 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Eastgroup Properties during the second quarter worth approximately $81,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Eastgroup Properties Company Profile

EastGroup Properties, Inc 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.

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