Wells Fargo analyst Blaine Heck lowered the firm’s price target on EastGroup Properties (EGP) to $199 from $214 and keeps an Overweight rating on the shares. The firm notes 40 REITs it covers reported this week with 24 beats, 3 misses and 13 meets. 27 bumped 2024 guidance, 2 cut, 9 maintained. On average, reporting companies underperformed REITs by -50 bps the day they reported and -140 bps through Friday midday, Wells adds.
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Read More on EGP:
- EastGroup Properties raises 2024 FFO view to $8.33 to $8.37 from $8.28-$8.38
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