EastGroup Properties with ticker code (EGP) have now 14 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The target price ranges between 198 and 149 and has a mean target at 168.93. Now with the previous closing price of 149.85 this would indicate that there is a potential upside of 12.7%. There is a 50 day moving average of 152.92 and the 200 moving average now moves to 163.86. The company has a market cap of $6,515m. Visit the company website at: https://www.eastgroup.net
The potential market cap would be $7,345m based on the market concensus.
EastGroup Properties (NYSE: EGP), an S&P MidCap 400 company, 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. The Company’s goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 15,000 to 70,000 square foot range). The Company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup’s portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 45.8 million square feet.
