KeyCorp Cuts EastGroup Properties (NYSE:EGP) Price Target to $178.00

EastGroup Properties (NYSE:EGP) had its price target lowered by KeyCorp from $198.00 to $178.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price target would indicate a potential upside of 12.79% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Mizuho restated a “neutral” rating and set a $185.00 target price on shares of EastGroup Properties in a research report on Tuesday, April 2nd. Evercore ISI dropped their price objective on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research report on Thursday, April 25th. BMO Capital Markets initiated coverage on shares of EastGroup Properties in a report on Monday, April 22nd. They set an “outperform” rating and a $190.00 price target for the company. Truist Financial upped their price objective on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Finally, Barclays reduced their price target on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $186.27.

EastGroup Properties Trading Up 1.2 %

NYSE:EGP opened at $157.82 on Tuesday. The stock’s 50 day simple moving average is $174.31 and its 200-day simple moving average is $175.03. EastGroup Properties has a 12-month low of $154.75 and a 12-month high of $188.85. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63. The firm has a market cap of $7.60 billion, a P/E ratio of 34.23, a PEG ratio of 2.47 and a beta of 0.93.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of EastGroup Properties 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 sale, the chief financial officer now directly owns 102,617 shares in the company, valued at approximately $18,752,230.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EGP. Yousif Capital Management LLC raised its stake in shares of EastGroup Properties by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 23,282 shares of the real estate investment trust’s stock valued at $4,185,000 after purchasing an additional 146 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its holdings in EastGroup Properties by 24.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 334 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 65 shares during the last quarter. Tritonpoint Wealth LLC grew its position in shares of EastGroup Properties by 6.9% in the 1st quarter. Tritonpoint Wealth LLC now owns 3,500 shares of the real estate investment trust’s stock worth $605,000 after acquiring an additional 225 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of EastGroup Properties by 1.0% in the 1st quarter. New York State Teachers Retirement System now owns 60,130 shares of the real estate investment trust’s stock valued at $10,810,000 after acquiring an additional 600 shares during the last quarter. Finally, Center for Financial Planning Inc. raised its position in shares of EastGroup Properties by 350.0% during the 1st quarter. Center for Financial Planning Inc. now owns 1,350 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 1,050 shares in the last quarter. 92.14% of the stock is currently owned by 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.