EastGroup Properties, Inc. which can be found using ticker (EGP) now have 14 confirmed analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price High/Low ranges between 198 and 152 and has a mean target at $174.50. Now with the previous closing price of $162.01 this would indicate that there is a potential upside of 7.7%. Also worth taking note is the 50 day moving average now sits at $164.23 and the 200 day MA is $158.80. The company has a market cap of $7,036m. Company Website: https://www.eastgroup.net
The potential market cap would be $7,578m 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 3.15% with the ex dividend date set at 30-3-2023 (DMY).
Other points of data to note are a P/E ratio of 37.05, revenue per share of 11.43 and a 3.15% return on assets.
