EastGroup Properties – Consensus Indicates Potential 5.8% Upside

Broker Ratings

EastGroup Properties with ticker code (EGP) have now 14 analysts in total covering the stock. The consensus rating is ‘Buy’. The target price ranges between 198 and 149 calculating the mean target price we have 168.93. Given that the stocks previous close was at 159.66 this would indicate that there is a potential upside of 5.8%. The 50 day MA is 153.03 while the 200 day moving average is 163.02. The company has a market cap of $7,014m. You can visit the company’s website by visiting: https://www.eastgroup.net

The potential market cap would be $7,422m based on the market concensus.

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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.

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