EastGroup Properties, Inc. (NYSE:EGP)‘s stock had its “hold” rating reissued by analysts at KeyCorp in a note issued to investors on Sunday.

Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Tuesday, July 11th. BidaskClub cut EastGroup Properties from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. ValuEngine upgraded EastGroup Properties from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Sandler O’Neill upgraded EastGroup Properties from a “hold” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $104.00 in a research note on Tuesday, September 5th. Finally, Bank of America Corporation upgraded EastGroup Properties from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $91.00 to $96.00 in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. EastGroup Properties has an average rating of “Hold” and a consensus target price of $83.10.

Shares of EastGroup Properties (NYSE EGP) opened at 89.20 on Friday. The stock has a 50 day moving average of $87.34 and a 200-day moving average of $81.53. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 37.38 and a beta of 0.98. EastGroup Properties has a 1-year low of $63.99 and a 1-year high of $91.51.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.60. EastGroup Properties had a return on equity of 12.05% and a net margin of 30.20%. The firm had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $67.16 million. During the same period last year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts forecast that EastGroup Properties will post $2.42 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the stock. First Mercantile Trust Co. raised its position in EastGroup Properties by 1.8% during the second quarter. First Mercantile Trust Co. now owns 1,720 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 30 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in EastGroup Properties by 8.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,220 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 168 shares in the last quarter. Riverhead Capital Management LLC raised its position in EastGroup Properties by 25.0% during the second quarter. Riverhead Capital Management LLC now owns 2,500 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 500 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in EastGroup Properties during the second quarter valued at approximately $216,000. Finally, Meadow Creek Investment Management LLC increased its position in shares of EastGroup Properties by 5.3% in the first quarter. Meadow Creek Investment Management LLC now owns 2,720 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 136 shares in the last quarter. Institutional investors own 96.42% of the company’s stock.

About EastGroup Properties

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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