EastGroup Properties, Inc. (EGP) To Go Ex-Dividend on March 31st

EastGroup Properties, Inc. (NYSE:EGP) announced a quarterly dividend on Friday, March 6th. Investors of record on Tuesday, March 31st will be paid a dividend of 1.55 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 31st.

EastGroup Properties has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. EastGroup Properties has a payout ratio of 117.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect EastGroup Properties to earn $9.73 per share next year, which means the company should continue to be able to cover its $6.20 annual dividend with an expected future payout ratio of 63.7%.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $183.43 on Friday. The firm has a market cap of $9.78 billion, a P/E ratio of 37.67, a PEG ratio of 2.98 and a beta of 1.10. EastGroup Properties has a twelve month low of $137.67 and a twelve month high of $197.95. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $187.65 and a 200 day moving average of $180.63.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.