Jefferies analyst Jonathan Petersen upgrades $EastGroup Properties Inc (EGP.US)$ to a buy rating, and adjusts the target price from $179 to $194.
According to TipRanks data, the analyst has a success rate of 60.8% and a total average return of 7.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $EastGroup Properties Inc (EGP.US)$'s main analysts recently are as follows:
The analysis updates on real estate investment trusts highlight the U.S. manufacturing expansion and its positive implications for warehouse demand. The ongoing manufacturing stimulus and potential tariffs are anticipated to encourage U.S. companies to boost domestic investments. EastGroup Properties is noted for its strategic position benefiting from onshoring and nearshoring trends, consistently surpassing earnings expectations, and maintaining a robust development leasing strategy.
EastGroup Properties remains well positioned in the shallow bay, sunbelt industrial markets. Recently, the company has been dealing with a few tenant disruptions, which are expected to modestly impact its near-term earnings run-rate.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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