EastGroup Properties, Inc. which can be found using ticker (EGP) have now 14 confirmed analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 198 and 156 suggesting an average Analsyt target price of $174.86. Now with the previous closing price of $164.61 this now indicates there is a potential upside of 6.2%. It’s also worth noting that there is a 50 day moving average of $164.47 and the 200 day MA is $159.05. The company has a market capitalization of $7,202m. Visit the company website at: https://www.eastgroup.net
The potential market cap would be $7,650m based on the market consensus.
EastGroup Properties, Inc. (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.
The company has a dividend yield of 3.02% with the ex dividend date set at 30-3-2023 (DMY).
Other points of data to note are a P/E ratio of 37.84, revenue per share of 11.43 and a 3.15% return on assets.
