EastGroup Properties with ticker code (EGP) now have 14 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The range between the high target price and low target price is between 248 and 158 with a mean TP of 186.43. With the stocks previous close at 156.46 this would imply there is a potential upside of 19.2%. The day 50 moving average is 166.6 and the 200 day moving average is 184.07. The market capitalisation for the company is $6,839m. Company Website: https://www.eastgroup.net
The potential market cap would be $8,148m 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.
