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Enter Symbol:
Eastgroup Properties, Inc. (EGP) [hlAlert]

down 38.64 %

Eastgroup Properties, Inc. (EGP) downgraded to Underperform with price target $28 by Oppenheimer

Posted on: Monday,  Apr 27, 2009  8:25 AM ET by Oppenheimer

Oppenheimer rated Underperform Eastgroup Properties, Inc. (NYSE: EGP) on 04/27/2009. Previously Oppenheimer rated Perform
Eastgroup Properties, Inc. (NYSE: EGP) on 09/18/2008., when the stock price was $47.05. Since then, Eastgroup Properties, Inc. has lost 28.25% as of 04/27/2009's recent price of $33.76.

EastGroup Properties, Inc. (EastGroup) is an equity real estate investment trust (REIT). The Company is engaged in the development, acquisition and operation of industrial properties in Sunbelt markets throughout the United States, including the states of Florida, Texas, Arizona and California. During the year ended December 31, 2008, EastGroup increased its ownership in real estate properties through its development and acquisition programs. The Company purchased five operating properties (669,000 square feet), one property for re-development (150,000 square feet) and 125 acres of developable land. Also during 2008, EastGroup transferred 16 properties (1,391,000 square feet) at the date of transfer from development to real estate properties.

OppenheimerFunds, Inc. has been helping investors achieve their financial goals since 1960. We are one of the nation's largest and most respected asset management companies. At OppenheimerFunds, we believe that in order for you to reach your financial goals, your investments must perform. That is why investment excellence—over the long term and across the range of our products—is our highest priority. OppenheimerFunds and its controlled affiliates offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, investment management for institutions, hedge fund products, qualified retirement plans and subadvisory investment-management services.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/27/2009 8:25 AM Sell
33.76 28.00
as of 12/31/2009
1 Week down  -7.89 %
1 Month down  -9.15 %
3 Months down  -8.29 %
1 YTD down  -22.60 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
9/18/2008 8:25 AM None

(*) Stock Price at the time of the recommendation.
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