Eastgroup Properties Inc (NYSE:EGP) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $101.52.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Tuesday, April 9th. SunTrust Banks upped their target price on Eastgroup Properties from $92.00 to $98.00 and gave the stock a “hold” rating in a research report on Tuesday, February 19th.
In other news, insider John F. Coleman sold 10,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $111.09, for a total transaction of $1,110,900.00. Following the completion of the sale, the insider now owns 99,657 shares in the company, valued at approximately $11,070,896.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in EGP. Norges Bank acquired a new stake in shares of Eastgroup Properties during the 4th quarter valued at $38,078,000. Vanguard Group Inc lifted its position in shares of Eastgroup Properties by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 5,502,403 shares of the real estate investment trust’s stock valued at $526,140,000 after acquiring an additional 116,567 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Eastgroup Properties by 19.5% during the 4th quarter. Macquarie Group Ltd. now owns 674,957 shares of the real estate investment trust’s stock valued at $61,914,000 after acquiring an additional 109,969 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Eastgroup Properties during the 4th quarter valued at $8,523,000. Finally, Geode Capital Management LLC lifted its position in shares of Eastgroup Properties by 16.3% during the 1st quarter. Geode Capital Management LLC now owns 558,567 shares of the real estate investment trust’s stock valued at $62,358,000 after acquiring an additional 78,123 shares during the last quarter. Institutional investors own 94.08% of the company’s stock.
EGP traded up $0.14 during trading on Friday, reaching $113.45. The stock had a trading volume of 254,828 shares, compared to its average volume of 284,542. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.02 and a quick ratio of 0.02. Eastgroup Properties has a 1-year low of $87.69 and a 1-year high of $116.45.
Eastgroup Properties (NYSE:EGP) last released its earnings results on Monday, April 22nd. The real estate investment trust reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The firm had revenue of $78.79 million during the quarter, compared to the consensus estimate of $78.83 million. Eastgroup Properties had a return on equity of 9.19% and a net margin of 26.82%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. Equities analysts expect that Eastgroup Properties will post 4.88 EPS for the current fiscal year.
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.
Featured Article: Quiet Period
Receive News & Ratings for Eastgroup Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastgroup Properties and related companies with MarketBeat.com's FREE daily email newsletter.