Market Overview

EastGroup Properties No Longer A Sell At Cantor Fitzgerald As Industry Fundamentals Improve

Share:
EastGroup Properties No Longer A Sell At Cantor Fitzgerald As Industry Fundamentals Improve
Related EGP
Benzinga's Top Upgrades, Downgrades For October 23, 2017
Benzinga's Top Upgrades, Downgrades For August 16, 2017

Analysts at Cantor Fitzgerald have upgraded shares of equity REIT EastGroup Properties Inc (NYSE: EGP) due to attractive industrial fundamentals.

Cantor Fitzgerald has upgraded shares from a Sell rating to a Hold, citing attractive industrial real estate fundamentals in the company's top markets outside of Houston.

Analysts remain cautious regarding the company's Houston exposure, which is 18 percent of the company, as that market continues to underperform.

Related Link: EastGroup Properties Reports Q3 FFO $1.04 Vs. Est. $1.04.

Cantor analysts also were seeing positive producing yields compared with market cap rates, high occupancy and positive rent growth as key catalysts for the upgrade.

Cantor Fitzgerald also raised its price target on the company from $63.00 to $71.00.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for EGP

DateFirmActionFromTo
Oct 2017Cantor FitzgeraldMaintainsNeutral
Oct 2017MizuhoDowngradesBuyNeutral
Aug 2017Bank of AmericaUpgradesNeutralBuy

View More Analyst Ratings for EGP
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings News REIT Upgrades Price Target Analyst Ratings Real Estate

 

Related Articles (EGP)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...