Stifel Nicolaus reaffirmed their hold rating on shares of EastGroup Properties, Inc. (NYSE:EGP) in a report issued on Friday morning. Stifel Nicolaus currently has a $85.00 price objective on the real estate investment trust’s stock.

A number of other brokerages have also recently weighed in on EGP. Cantor Fitzgerald reaffirmed a hold rating and set a $75.00 price target on shares of EastGroup Properties in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of EastGroup Properties from a hold rating to a buy rating and set a $91.00 price target for the company in a research report on Tuesday, July 11th. BidaskClub cut shares of EastGroup Properties from a strong-buy rating to a buy rating in a research report on Wednesday, June 21st. Mizuho upped their price target on shares of EastGroup Properties from $80.00 to $88.00 and gave the stock a buy rating in a research report on Monday, April 24th. Finally, Morgan Stanley raised shares of EastGroup Properties from an underweight rating to an equal weight rating and set a $76.00 price target for the company in a research report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. EastGroup Properties presently has an average rating of Hold and a consensus target price of $78.88.

EastGroup Properties (EGP) opened at 87.18 on Friday. EastGroup Properties has a 52-week low of $63.99 and a 52-week high of $87.74. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 36.54 and a beta of 0.97. The stock’s 50 day moving average price is $84.26 and its 200 day moving average price is $77.85.

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, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.60. EastGroup Properties had a net margin of 30.20% and a return on equity of 12.05%. The company had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $67.16 million. During the same period in the previous year, the company earned $0.99 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that EastGroup Properties will post $1.77 EPS for the current year.

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In other EastGroup Properties news, Director David H. Hoster II sold 1,259 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $84.00, for a total value of $105,756.00. Following the completion of the transaction, the director now directly owns 186,130 shares of the company’s stock, valued at approximately $15,634,920. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John F. Coleman sold 5,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.56, for a total transaction of $402,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,109 shares of company stock valued at $577,670. 2.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of EGP. Glen Harbor Capital Management LLC boosted its position in EastGroup Properties by 5.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,760 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 88 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in EastGroup Properties by 8.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,220 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 168 shares during the last quarter. Elkfork Partners LLC boosted its position in EastGroup Properties by 5.3% in the first quarter. Elkfork Partners LLC now owns 2,240 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 112 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in EastGroup Properties by 31.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 600 shares during the last quarter. Finally, Heritage Trust Co purchased a new position in EastGroup Properties during the first quarter worth $184,000. 95.91% of the stock is owned by institutional investors.

EastGroup Properties Company Profile

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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