EastGroup Properties (NYSE:EGP) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties (NYSE:EGP) in a research note published on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $180.00 price target on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $209.00 price objective on shares of EastGroup Properties in a research report on Friday, October 25th. Evercore ISI increased their price target on shares of EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Barclays lowered their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their price target on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.88.

EastGroup Properties Stock Up 2.6 %

Shares of NYSE:EGP opened at $162.47 on Tuesday. EastGroup Properties has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $167.42 and its 200-day simple moving average is $177.11. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.23 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. During the same quarter in the previous year, the business earned $1.95 EPS. EastGroup Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts predict that EastGroup Properties will post 8.35 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 31st. EastGroup Properties’s payout ratio is currently 115.70%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC grew its holdings in shares of EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 61 shares in the last quarter. Quest Partners LLC boosted its position in EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 208 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in EastGroup Properties by 503.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 302 shares during the period. Headlands Technologies LLC acquired a new position in EastGroup Properties in the 2nd quarter valued at $66,000. Finally, GAMMA Investing LLC lifted its stake in shares of EastGroup Properties by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

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.