EastGroup Properties (NYSE:EGP) Price Target Cut to $175.00 by Analysts at Robert W. Baird

EastGroup Properties (NYSE:EGP) had its price objective decreased by Robert W. Baird from $195.00 to $175.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

EGP has been the subject of several other reports. Barclays lowered their target price on EastGroup Properties from $181.00 to $175.00 and set an equal weight rating for the company in a research note on Monday. JPMorgan Chase & Co. started coverage on EastGroup Properties in a research note on Thursday, April 11th. They set a neutral rating and a $190.00 target price for the company. Truist Financial lifted their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a hold rating in a research note on Tuesday, February 20th. Evercore ISI cut their price target on shares of EastGroup Properties from $190.00 to $178.00 and set an in-line rating on the stock in a report on Thursday, April 25th. Finally, Royal Bank of Canada boosted their target price on shares of EastGroup Properties from $180.00 to $190.00 and gave the stock a sector perform rating in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $185.56.

EastGroup Properties Trading Up 1.0 %

Shares of EGP opened at $156.86 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10. EastGroup Properties has a 12 month low of $154.75 and a 12 month high of $188.85. The stock has a market cap of $7.55 billion, a PE ratio of 34.03, a P/E/G ratio of 2.47 and a beta of 0.96. The stock’s 50-day moving average is $173.79 and its two-hundred day moving average is $174.96.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.27 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 annualized dividend and a yield of 3.24%. EastGroup Properties’s dividend payout ratio (DPR) is 110.20%.

Insider Activity at EastGroup Properties

In other news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of EastGroup Properties during the 4th quarter worth $31,000. Venturi Wealth Management LLC increased its position in EastGroup Properties by 51.6% during the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 66 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in EastGroup Properties during the fourth quarter worth $37,000. Mather Group LLC. bought a new stake in shares of EastGroup Properties during the 1st quarter worth about $42,000. Finally, Tucker Asset Management LLC bought a new position in shares of EastGroup Properties in the 3rd quarter valued at approximately $44,000. 92.14% of the stock is owned by institutional investors and hedge funds.

About EastGroup Properties

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.