Evercore ISI Group Maintains In-Line Rating for EastGroup Props: Here's What You Need To Know

Evercore ISI Group has decided to maintain its In-Line rating of EastGroup Props EGP and lower its price target from $159.00 to $156.00.

Shares of EastGroup Props are trading down 0.98% over the last 24 hours, at $154.93 per share.

A move to $156.00 would account for a 0.69% increase from the current share price.

About EastGroup Props

EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the acquisition, development, and operation of industrial properties in major urban areas within the Sunbelt region of the United States. The company manages a portfolio of industrial and office buildings mainly clustered around large transportation hubs. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. Properties located in Texas and Florida account for most of EastGroup's total real estate portfolio. The company derives its revenue in the form of rental income from mostly medium-term leases. Bulk distribution and business service space comprise the remainder of East Group's properties.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.