EastGroup Properties (NYSE:EGP) PT Lowered to $178.00 at KeyCorp

EastGroup Properties (NYSE:EGP) had its price objective decreased by KeyCorp from $198.00 to $178.00 in a report issued on Tuesday, Benzinga reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock.

EGP has been the subject of several other reports. Piper Sandler decreased their price target on shares of EastGroup Properties from $215.00 to $200.00 and set an overweight rating for the company in a report on Monday, April 29th. BMO Capital Markets initiated coverage on shares of EastGroup Properties in a research report on Monday, April 22nd. They issued an outperform rating and a $190.00 target price for the company. Barclays decreased their target price on shares of EastGroup Properties from $181.00 to $175.00 and set an equal weight rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of EastGroup Properties in a research report on Thursday, April 11th. They issued a neutral rating and a $190.00 target price for the company. Finally, Evercore ISI decreased their target price on shares of 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. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $185.13.

EastGroup Properties Stock Performance

EGP stock opened at $159.86 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $7.70 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.49 and a beta of 0.96. The firm has a 50 day simple moving average of $172.81 and a 200 day simple moving average of $174.72. EastGroup Properties has a 52 week low of $154.75 and a 52 week high of $188.85.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, March 27th. EastGroup Properties’s payout ratio is currently 110.20%.

Insider Activity at EastGroup Properties

In related news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On EastGroup Properties

A number of hedge funds have recently made changes to their positions in the business. FORA Capital LLC raised its stake in shares of EastGroup Properties by 180.4% in the 1st quarter. FORA Capital LLC now owns 8,148 shares of the real estate investment trust’s stock valued at $1,465,000 after buying an additional 5,242 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of EastGroup Properties by 6.2% in the 1st quarter. BNP Paribas Financial Markets now owns 57,443 shares of the real estate investment trust’s stock valued at $10,327,000 after buying an additional 3,346 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of EastGroup Properties by 3.2% in the 1st quarter. Retirement Systems of Alabama now owns 59,899 shares of the real estate investment trust’s stock valued at $10,768,000 after buying an additional 1,873 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of EastGroup Properties by 14.9% in the 1st quarter. Van ECK Associates Corp now owns 18,210 shares of the real estate investment trust’s stock valued at $3,274,000 after buying an additional 2,356 shares in the last quarter. Finally, 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 buying an additional 146 shares in the last quarter. 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.