In a report released today, Blaine Heck from Wells Fargo maintained a Hold rating on Eastgroup Properties (EGP – Research Report), with a price target of $179.00. The company’s shares closed yesterday at $168.39.
According to TipRanks, Heck is an analyst with an average return of -2.1% and a 45.83% success rate. Heck covers the Real Estate sector, focusing on stocks such as Terreno Realty, Rexford Industrial Realty, and Cousins Properties.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eastgroup Properties with a $192.10 average price target, representing a 14.08% upside. In a report released on April 11, J.P. Morgan also initiated coverage with a Hold rating on the stock with a $190.00 price target.
Based on Eastgroup Properties’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $149.15 million and a net profit of $63.46 million. In comparison, last year the company earned a revenue of $129.84 million and had a net profit of $38.67 million
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGP in relation to earlier this year.
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Eastgroup Properties (EGP) Company Description:
EastGroup Properties, Inc. is an equity real estate investment trust, which engages in the development, acquisition and operation of industrial properties in the United States. It operates through Industrial Properties segment. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina. The company was founded in 1969 and is headquartered in Ridgeland, MS.
