EastGroup Properties price target lowered to $183 from $189 at RBC Capital

RBC Capital lowered the firm’s price target on EastGroup Properties (EGP) to $183 from $189 and keeps a Sector Perform rating on the shares after its Q1 results. The industrial REIT sector has broadly seen an uptick in volatility given the tariff news, and it will remain under pressure until the current macro uncertainty clears, though the firm sees EastGroup as better positioned to navigate these potential headwinds given its Sunbelt, shallow bay strategy and lowly-levered balance sheet, the analyst tells investors in a research note.