In a report released today, Jeffrey Spector from Bank of America Securities reiterated a Buy rating on Eastgroup Properties, with a price target of $200.00.
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Jeffrey Spector has given his Buy rating due to a combination of factors that highlight Eastgroup Properties’ strong performance and potential for growth. The company reported a slight beat in its second-quarter earnings, with funds from operations (FFO) per share surpassing expectations and reaching the top end of its prior guidance. This positive performance is attributed to the strength of its core operations, which led to an upward revision of its 2025 guidance.
Despite some challenges in development leasing, Eastgroup Properties’ operating portfolio remains robust, with steady occupancy levels and active smaller tenants. The company’s strategic positioning in the growing Sunbelt markets and its healthy tenant credit profile further bolster its prospects. Additionally, the increase in price objective to $200, offering a 25% total return, reflects confidence in the company’s ability to deliver value to investors. These factors, combined with a strong balance sheet and a well-positioned portfolio, underpin Spector’s Buy rating.
Spector covers the Real Estate sector, focusing on stocks such as Cousins Properties, Welltower, and Mid-America Apartment. According to TipRanks, Spector has an average return of 3.3% and a 49.41% success rate on recommended stocks.
In another report released on July 25, BTIG also reiterated a Buy rating on the stock with a $218.00 price target.