According to Bloomberg Ratings, the eleven analysts covering EastGroup Properties, Inc. (NYSE: EGP) have assigned the stock an average rating of “Hold” to the company’s shares. This rating was given to the stock after the analysts considered the company’s recent performance. One equity research analyst has given the stock a sell rating, five other analysts have given it the recommendation to hold the stock, four analysts have given it the recommendation to hold the stock, and four analysts have given it the recommendation to buy the stock. According to the consensus of brokerage firms that have covered the stock over the previous year, the stock is anticipated to close at $167.70 per share.
Various equity analysts have recently provided their thoughts on the company’s stock. In a research report published on October 17, BTIG Research downgraded their “buy” rating and price target on EastGroup Properties from $248.00 to $198.00. This information was included in the report that was released that day. Piper Sandler lowered the price target for EastGroup Properties in a research report published on Friday, October 7. The new price target is $187.00, down from $200.00. Despite this modification, the brokerage firm maintained its “overweight” rating on the stock. On Tuesday, November 22, Wells Fargo & Company released a research report that increased their price objective on EastGroup Properties from $140.00 to $160.00 and categorized the stock as “equal weight.” Robert W. Baird raised his rating on shares of EastGroup Properties from “neutral” to “outperform” and set a price objective of $170.00 on the company in a research note dated Thursday, January 5. He also set a price target of $170.00 for the company’s shares. KeyCorp upgraded shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a price objective of $170.00 on the stock in a report published on Wednesday, December 14.
The number of hedge funds and other types of institutional investors has either increased or decreased the percentage of their holdings invested in the company over the past few months. During the second quarter, Better Money Decisions LLC invested thirty thousand dollars into establishing a new position at EastGroup Properties. During the first three months of 2018, Group One Trading L.P. completed the purchase of a new stake in EastGroup Properties that was valued at approximately $41,000. C.M. Bidwell & Associates Ltd. spent $44,000 to acquire one share of EastGroup Properties during the second quarter of the fiscal year. Wipfli Financial Advisors LLC increased its previous investment in EastGroup Properties by approximately $44,000 during the third quarter, bringing the total amount of money it has invested to approximately $44,000. And finally, during the third quarter, Ellevest Inc. added 79.5 percent to the amount of EastGroup Properties it held in its portfolio. After purchasing 151 additional shares during the most recent quarter, Ellevest Inc. now directly owns 341 real estate investment trust shares, currently valued at $49,000. This brings the total number of shares that Ellevest, Inc. Institutional investors and hedge funds hold 89.48% of the total shares of the company’s stock, making up the majority of the company’s shareholders.
The first price at which the Egyptian pound was traded on Thursday was 161.9 dollars. During the last 52 weeks, the price of an EastGroup Properties share has ranged from a low of $137.47 to a high of $217.46. A debt-to-equity ratio of 0.85, a quick ratio of 0.03, and a current ratio of 0.03 are all equivalent to the same value. The company’s market capitalization is $7.05 billion, the price-to-earnings-growth ratio of the company is 2.88, the price-to-earnings ratio of the company is 30.84, and the beta value of the company is 0.88. Over the past 50 days, the company’s moving averages totaled $153.44; over the last 200 days, they totaled $156.77.
The company just recently declared and distributed a quarterly dividend, which was paid out on January 13 of this year. In addition, the company just recently announced and distributed a dividend. On December 30, dividend payments were made to shareholders recorded as having shares as of that day. The amount of each dividend payment was $1.25 per share. Thursday, December 29, was the day that the dividend was disbursed; that day was also the month of December. This results in a dividend payment of $5 per year and a dividend yield of 3.09% for the stock. At this time, EastGroup Properties’ dividend payout ratio (also known as DPR) stands at 95.24 percent.
The EastGroup Properties, Inc. business functions as an internally managed equity real estate investment trust. The primary emphasis of the company’s operations is placed on the creation, acquisition, and administration of industrial assets in the United States. This business has distribution facilities in the states of Florida, California, Texas, and Arizona, in addition to North Carolina.
