EastGroup Properties with ticker code (EGP) have now 14 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The target price ranges between 248 and 160 and has a mean target at 212.43. Given that the stocks previous close was at 194.37 this is indicating there is a potential upside of 9.3%. The 50 day moving average now sits at 202.61 and the 200 day moving average is 186.53. The company has a market cap of $7,709m. Company Website: https://www.eastgroup.net
The potential market cap would be $8,426m 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 portfolioluding development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 45.8 million square feet.
