BUZZ-Piper Sandler upgrades EastGroup Properties to 'overweight'

Reuters12-12 22:59

** Shares of real estate investment trust EastGroup Properties EGP.N rise 1.13% to $186.35 in early trading

** Piper Sandler upgrades EGP to "overweight" from "neutral", citing improving tenant demand and a rebound in leasing activity

** Brokerage also raised PT to $220 from $185 which is a 19.3% upside to its last close

** Leasing jumped in 4Q25 with 454k square feet signed as tenants started committing to new and expansion leases after tariff worries eased, brokerage says

** Piper says EGP's tenants are driven by local economies, not foreign trade, which suggests this year's pause was more about general nervousness versus actual slowdowns

** 14 of 21 brokerages rate the stock "buy" or higher and 7 "hold"; their median PT is $200 - LSEG

** As of last close, EGP up 14.8% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

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