Shares of EastGroup Properties, Inc. (NYSE:EGP) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $188.00. \n\nA number of analysts have recently issued reports on the company. Barclays dropped their price target on EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada dropped their target price on shares of EastGroup Properties from $189.00 to $183.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Piper Sandler decreased their price target on shares of EastGroup Properties from $175.00 to $172.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Evercore ISI raised their price objective on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Finally, Robert W. Baird cut their target price on shares of EastGroup Properties from $194.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th.\n\nSeveral institutional investors and hedge funds have recently bought and sold shares of EGP. BROOKFIELD Corp ON raised its holdings in shares of EastGroup Properties by 2,832.2% during the first quarter. BROOKFIELD Corp ON now owns 109,429 shares of the real estate investment trust’s stock valued at $19,276,000 after acquiring an additional 105,697 shares in the last quarter. Nicola Wealth Management LTD. purchased a new position in EastGroup Properties during the 1st quarter valued at $705,000. Osterweis Capital Management Inc. raised its holdings in EastGroup Properties by 1.3% in the 1st quarter. Osterweis Capital Management Inc. now owns 212,509 shares of the real estate investment trust’s stock worth $37,433,000 after purchasing an additional 2,689 shares in the last quarter. Strs Ohio purchased a new stake in shares of EastGroup Properties in the 1st quarter worth about $25,954,000. Finally, Focus Partners Wealth boosted its stake in shares of EastGroup Properties by 2.2% during the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock valued at $1,075,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.\n\nEastGroup Properties (<a>NYSE:EGP</a>) last released its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.01. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The business had revenue of $174.45 million during the quarter, compared to analyst estimates of $169.67 million. During the same period in the previous year, the business earned $1.98 EPS. EastGroup Properties’s revenue was up 13.1% compared to the same quarter last year. Analysts expect that EastGroup Properties will post 8.94 EPS for the current year.\n\nThe company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, June 30th. EastGroup Properties’s dividend payout ratio is 122.54%.\n\nEastGroup 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.

Analysts Set EastGroup Properties, Inc. (NYSE:EGP) Target Price at $188.00

Analysts have set a target price of $188.00 for EastGroup Properties, Inc. (NYSE:EGP), with a 'Moderate Buy' consensus rating. The company reported strong quarterly earnings, beating estimates, and announced a dividend. Institutional investors have increased their holdings, while analysts adjusted price targets and ratings.