UPDATE: Wunderlich Initiates EastGroup Properties at Buy

Wunderlich is out with its report today on EastGroup Properties

, initiating EGP at Buy. In its report, Wunderlich writes, "We are initiating coverage on EastGroup Properties, Inc. with a Buy rating and $50 price target. EGP's stock looks attractive for growth and income investors, particularly in the current low interest rate environment. EGP's dividend yield of 5.3% is above peers." At the time time of posting, shares of EGP were trading at $39.62, up 0.38% from Monday's close.