EastGroup Properties (EGP) PT Raised to $144 at RBC Capital

February 22, 2021 4:28 PM EST
Get Alerts EGP Hot Sheet
Price: $151.91 -0.22%

Rating Summary:
    5 Buy, 19 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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RBC Capital analyst Michael Carrol raised the price target on EastGroup Properties (NYSE: EGP) to $144.00 (from $142.00) while maintaining a Sector Perform rating.

The analyst comments "EGP delivered another solid earnings report highlighted by an expected uptick in development activity and continued solid property-level trends. Management expects to start $205 million of new developments in 2021 up from $91 million in the prior year. Rent collections were strong and bad debt should trend lower going forward. Therefore, we are raising our FFO estimates and increasing our target to $144/share from $142/share. Our rating is unchanged at Sector Perform."

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