Shares of EastGroup Properties, Inc. (NYSE:EGP – Get Free Report) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $182.41.
Several equities analysts have recently commented on the stock. Evercore ISI lowered their price objective on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Piper Sandler cut their price objective on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. KeyCorp decreased their target price on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Royal Bank of Canada cut their price target on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating on the stock in a report on Monday, May 6th. Finally, Barclays dropped 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.
Check Out Our Latest Report on EGP
Hedge Funds Weigh In On EastGroup Properties
EastGroup Properties Stock Down 0.4 %
Shares of EastGroup Properties stock opened at $169.43 on Thursday. The company’s 50 day moving average price is $163.77 and its 200-day moving average price is $173.65. EastGroup Properties has a 52-week low of $154.75 and a 52-week high of $188.85. 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 capitalization of $8.16 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 2.65 and a beta of 0.98.
EastGroup Properties Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, June 28th. EastGroup Properties’s payout ratio is 110.20%.
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.
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