EastGroup Properties (EGP) Upgraded at ValuEngine

EastGroup Properties (NYSE:EGP) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

EGP has been the topic of several other reports. Zacks Investment Research downgraded EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. SunTrust Banks upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Mizuho reiterated a “hold” rating and set a $90.00 target price on shares of EastGroup Properties in a research report on Sunday, February 4th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $95.00 target price on shares of EastGroup Properties in a research report on Wednesday, February 7th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. EastGroup Properties has an average rating of “Hold” and an average target price of $90.20.

Shares of NYSE:EGP opened at $85.84 on Tuesday. EastGroup Properties has a 52-week low of $76.44 and a 52-week high of $95.03. The firm has a market capitalization of $2,958.01, a PE ratio of 20.15, a P/E/G ratio of 3.88 and a beta of 0.92.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, April 19th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. EastGroup Properties had a return on equity of 13.52% and a net margin of 35.36%. The firm had revenue of $72.20 million for the quarter, compared to the consensus estimate of $71.62 million. During the same period in the prior year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts anticipate that EastGroup Properties will post 4.57 EPS for the current fiscal year.

In other news, Director Fredric H. Gould acquired 3,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average cost of $80.05 per share, for a total transaction of $240,150.00. Following the acquisition, the director now directly owns 13,688 shares in the company, valued at approximately $1,095,724.40. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider John F. Coleman sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $85.42, for a total value of $512,520.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new position in shares of EastGroup Properties in the 4th quarter worth about $148,000. MML Investors Services LLC purchased a new position in shares of EastGroup Properties in the 4th quarter worth about $218,000. Vident Investment Advisory LLC purchased a new position in shares of EastGroup Properties in the 4th quarter worth about $229,000. Connable Office Inc. purchased a new position in shares of EastGroup Properties in the 4th quarter worth about $258,000. Finally, Capital Fund Management S.A. purchased a new position in shares of EastGroup Properties in the 4th quarter worth about $274,000. Institutional investors own 96.06% of the company’s stock.

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EastGroup Properties Company Profile

EastGroup Properties, Inc 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.

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Analyst Recommendations for EastGroup Properties (NYSE:EGP)

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