Mizuho downgraded EastGroup Properties to Neutral from Buy with an unchanged price target of $185. The analyst believes several share catalysts have played out, demand and rent growth is starting to decelerate, and EastGroup’s valuation gap is narrowing versus peers. The firm is “taking chips off the Sunbelt trade.”
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Read More on EGP:
- EastGroup Properties price target raised to $175 from $172 at Evercore ISI
- EastGroup upgraded to Outperform from Market Perform at Raymond James
- EastGroup Properties raises FY23 FFO view to $7.73-$7.77 from $7.58-$7.68
- EastGroup Properties reports Q3 FFO $1.95 ex items, consensus $1.93
- EastGroup Properties Announces Third Quarter 2023 Results
