EastGroup Properties Inc. (NYSE:EGP) will issue its Q316 quarterly earnings data on Wednesday, October 19th. Analysts expect the company to announce earnings of $1.04 per share and revenue of $62.41 million for the quarter.
EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, July 20th. The company reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. EastGroup Properties had a return on equity of 15.59% and a net margin of 36.63%. The business had revenue of $61.92 million for the quarter, compared to analyst estimates of $61.53 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. EastGroup Properties’s revenue was up 7.0% on a year-over-year basis. On average, analysts expect EastGroup Properties to post $3.99 EPS for the current fiscal year and $4.21 EPS for the next fiscal year.
Shares of EastGroup Properties Inc. (NYSE:EGP) opened at 69.07 on Monday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 25.01 and a beta of 1.00. The company’s 50-day moving average price is $71.74 and its 200 day moving average price is $67.81. EastGroup Properties Inc. has a 12-month low of $49.31 and a 12-month high of $76.00.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a dividend of $0.62 per share. This is a positive change from EastGroup Properties’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, September 15th. EastGroup Properties’s dividend payout ratio (DPR) is currently 90.51%.
In other EastGroup Properties news, Director David H. Hoster II sold 10,000 shares of EastGroup Properties stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $73.01, for a total transaction of $730,100.00. Following the completion of the transaction, the director now owns 192,037 shares in the company, valued at approximately $14,020,621.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brent Wood sold 3,400 shares of EastGroup Properties stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $72.22, for a total value of $245,548.00. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. bought a new position in EastGroup Properties during the second quarter worth about $110,000. Ingalls & Snyder LLC purchased a new position in EastGroup Properties during the second quarter valued at approximately $207,000. Keeley Asset Management Corp purchased a new position in EastGroup Properties during the second quarter valued at approximately $207,000. Jane Street Group LLC purchased a new position in EastGroup Properties during the second quarter valued at approximately $333,000. Finally, Hsbc Holdings PLC boosted its position in EastGroup Properties by 2.7% in the second quarter. Hsbc Holdings PLC now owns 4,980 shares of the company’s stock valued at $343,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 94.42% of the company’s stock.
Several research analysts recently issued reports on the company. Mizuho assumed coverage on EastGroup Properties in a research report on Wednesday, September 28th. They set a “buy” rating and a $83.00 target price for the company. Zacks Investment Research raised EastGroup Properties from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Wednesday, September 21st. Morgan Stanley initiated coverage on EastGroup Properties in a research report on Tuesday, September 6th. They issued an “underweight” rating and a $65.00 price objective for the company. BTIG Research initiated coverage on EastGroup Properties in a research report on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets reissued a “hold” rating and issued a $70.00 price objective on shares of EastGroup Properties in a research report on Thursday, July 28th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. EastGroup Properties has a consensus rating of “Hold” and an average target price of $67.64.
EastGroup Properties Company Profile
EastGroup Properties, Inc is an equity real estate investment trust. The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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