Sandler O’Neill restated their buy rating on shares of Eastgroup Properties (NYSE:EGP) in a report issued on Wednesday. They currently have a $95.00 price target on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Eastgroup Properties from a buy rating to a hold rating in a report on Wednesday, January 31st. Mizuho reissued a hold rating and issued a $90.00 price target on shares of Eastgroup Properties in a report on Sunday, February 4th. Cantor Fitzgerald reissued a hold rating and issued a $79.00 price target on shares of Eastgroup Properties in a report on Friday, October 20th. SunTrust Banks raised Eastgroup Properties from a sell rating to a hold rating in a report on Monday, January 22nd. Finally, Morgan Stanley reissued an equal weight rating and issued a $82.00 price target on shares of Eastgroup Properties in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $87.42.

Eastgroup Properties (NYSE:EGP) opened at $80.30 on Wednesday. Eastgroup Properties has a twelve month low of $69.53 and a twelve month high of $95.03. The company has a market capitalization of $2,690.98, a P/E ratio of 18.35, a P/E/G ratio of 3.92 and a beta of 0.92.

Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Eastgroup Properties had a return on equity of 11.76% and a net margin of 30.34%. The company had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $69.66 million. During the same period in the previous year, the firm earned $1.08 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. analysts anticipate that Eastgroup Properties will post 4.5 EPS for the current year.

In other news, insider Bruce Corkern sold 3,586 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $91.75, for a total transaction of $329,015.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brent Wood sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $90.26, for a total value of $297,858.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,136 shares of company stock worth $1,779,599 over the last ninety days. Insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC increased its position in shares of Eastgroup Properties by 98.4% during the 4th quarter. Citadel Advisors LLC now owns 10,108 shares of the real estate investment trust’s stock valued at $894,000 after purchasing an additional 5,014 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Eastgroup Properties during the 4th quarter valued at approximately $362,000. UBS Asset Management Americas Inc. increased its position in shares of Eastgroup Properties by 11.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 74,370 shares of the real estate investment trust’s stock valued at $6,573,000 after purchasing an additional 7,553 shares during the last quarter. BlackRock Inc. increased its position in shares of Eastgroup Properties by 3.0% during the 4th quarter. BlackRock Inc. now owns 5,393,662 shares of the real estate investment trust’s stock valued at $476,693,000 after purchasing an additional 154,784 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Eastgroup Properties by 14.4% during the 4th quarter. Rhumbline Advisers now owns 95,560 shares of the real estate investment trust’s stock valued at $8,446,000 after purchasing an additional 12,065 shares during the last quarter. 96.10% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Eastgroup Properties (NYSE:EGP)

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