Eastgroup Properties Inc (NYSE:EGP) has received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $95.22.

A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine cut shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Sandler O’Neill set a $105.00 price objective on shares of Eastgroup Properties and gave the stock a “buy” rating in a research note on Monday, July 23rd. Bank of America increased their price objective on shares of Eastgroup Properties from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Finally, Citigroup increased their price objective on shares of Eastgroup Properties from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th.

In other Eastgroup Properties news, EVP John F. Coleman sold 5,000 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $96.27, for a total transaction of $481,350.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brent Wood sold 4,700 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $97.40, for a total transaction of $457,780.00. The disclosure for this sale can be found here. Insiders sold 9,965 shares of company stock worth $964,687 in the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in shares of Eastgroup Properties by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 501,377 shares of the real estate investment trust’s stock valued at $47,912,000 after acquiring an additional 8,445 shares during the last quarter. MetLife Investment Advisors LLC increased its position in shares of Eastgroup Properties by 4.0% during the second quarter. MetLife Investment Advisors LLC now owns 15,737 shares of the real estate investment trust’s stock valued at $1,504,000 after acquiring an additional 600 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Eastgroup Properties by 4.6% during the second quarter. Metropolitan Life Insurance Co. NY now owns 13,089 shares of the real estate investment trust’s stock valued at $1,251,000 after acquiring an additional 576 shares during the last quarter. Vident Investment Advisory LLC increased its position in shares of Eastgroup Properties by 24.1% during the second quarter. Vident Investment Advisory LLC now owns 7,011 shares of the real estate investment trust’s stock valued at $670,000 after acquiring an additional 1,361 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of Eastgroup Properties by 12.4% during the second quarter. Macquarie Group Ltd. now owns 446,856 shares of the real estate investment trust’s stock valued at $42,702,000 after acquiring an additional 49,353 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

NYSE:EGP traded down $0.72 during midday trading on Friday, reaching $96.39. 5,405 shares of the stock traded hands, compared to its average volume of 135,232. Eastgroup Properties has a 12-month low of $77.74 and a 12-month high of $99.39. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 4.40 and a beta of 0.77.

Eastgroup Properties (NYSE:EGP) last posted its earnings results on Thursday, July 19th. The real estate investment trust reported $0.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.49. The company had revenue of $74.90 million during the quarter, compared to analysts’ expectations of $72.60 million. Eastgroup Properties had a net margin of 28.00% and a return on equity of 10.26%. Eastgroup Properties’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share. equities analysts anticipate that Eastgroup Properties will post 4.62 earnings per share 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 Story: Stock Symbols, CUSIP and Other Stock Identifiers

Analyst Recommendations for Eastgroup Properties (NYSE:EGP)

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.