Truist lowered the firm’s price target on EastGroup Properties (EGP) to $168 from $186 and keeps a Hold rating on the shares as part of a 2025 outlook for real estate investment trusts. The firm is neutral on REITs for 2025, saying its enthusiasm for improving fundamentals and earnings growth amid declining new supply is tempered by uncertainty regarding long-term interest rates and relatively tight cap rate spreads versus Treasuries and corporate bonds. Truist is “relatively bullish” on data center, retail, industrial, and gaming, neutral on manufactured housing, healthcare, multifamily, office, and triple net, and “relatively cautious” on self-storage.
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Read More on EGP:
- EastGroup Properties initiated with a Buy at Deutsche Bank
- EastGroup Properties price target lowered to $192 from $197 at Baird
- Prologis upgraded to Outperform from Neutral at Baird
- EastGroup Properties upgraded to Buy from Hold at Jefferies
- EastGroup price target lowered to $183 from $186 at RBC Capital