Equities analysts predict that EastGroup Properties, Inc. (NYSE: EGP – Get Rating) will post earnings per share of $ 1.65 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for EastGroup Properties’ earnings, with the lowest EPS estimate coming in at $ 1.61 and the highest estimate coming in at $ 1.70. EastGroup Properties reported earnings per share of $ 1.47 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that EastGroup Properties will report full-year earnings of $ 6.72 per share for the current financial year, with EPS estimates ranging from $ 6.56 to $ 6.85. For the next fiscal year, analysts forecast that the business will post earnings of $ 7.30 per share, with EPS estimates ranging from $ 7.09 to $ 7.47. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow EastGroup Properties.
EastGroup Properties (NYSE: EGP – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $ 0.81 EPS for the quarter, missing analysts’ consensus estimates of $ 1.62 by ($ 0.81). EastGroup Properties had a net margin of 45.65% and a return on equity of 12.84%. During the same quarter in the prior year, the firm posted $ 1.45 earnings per share.
A number of analysts recently commented on the stock. Mizuho upped their price objective on shares of EastGroup Properties from $ 160.00 to $ 215.00 in a research report on Thursday, January 13th. Truist Financial increased their target price on EastGroup Properties from $ 200.00 to $ 205.00 in a report on Tuesday, January 18th. Piper Sandler lowered their target price on EastGroup Properties from $ 245.00 to $ 230.00 in a report on Wednesday. Zacks Investment Research cut EastGroup Properties from a “buy” rating to a “hold” rating in a report on Friday, April 15th. Finally, Wells Fargo & Company lowered their target price on EastGroup Properties from $ 220.00 to $ 184.00 and set an “equal weight” rating for the company in a report on Tuesday, March 15th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $ 212.40.
Several institutional investors have recently bought and sold shares of EGP. HHM Wealth Advisors LLC acquired a new position in shares of EastGroup Properties during the 1st quarter worth about $ 28,000. EverSource Wealth Advisors LLC acquired a new stake in EastGroup Properties in the 4th quarter valued at about $ 28,000. Consolidated Planning Corp acquired a new stake in EastGroup Properties in the 3rd quarter valued at about $ 29,000. Confluence Wealth Services Inc. acquired a new stake in EastGroup Properties in the 4th quarter valued at about $ 29,000. Finally, UMB Bank NA MO acquired a new stake in EastGroup Properties in the 4th quarter valued at about $ 32,000. Institutional investors own 91.02% of the company’s stock.
EGP opened at $ 168.44 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.87. EastGroup Properties has a 12 month low of $ 148.69 and a 12 month high of $ 229.84. The company has a fifty day simple moving average of $ 196.75 and a 200 day simple moving average of $ 201.40. The stock has a market cap of $ 7.02 billion, a P / E ratio of 35.54, a P / E / G ratio of 3.66 and a beta of 0.87.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a dividend of $ 1.10 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $ 4.40 dividend on an annualized basis and a dividend yield of 2.61%. EastGroup Properties’s dividend payout ratio is 92.83%.
EastGroup Properties Company Profile (Get Rating)
EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis on the states of Florida, Texas, Arizona, California and North Carolina.
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