Stock 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 released earnings estimates for EastGroup Properties, with the lowest EPS estimate at $1.61 and the highest at $1.70. EastGroup Properties reported earnings per share of $1.47 in the same quarter last year, indicating a positive year-over-year growth rate of 12.2%. The company is expected to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect EastGroup Properties to report annual earnings of $6.72 per share for the current fiscal year, with EPS estimates ranging from $6.56 to $6.85. For the next fiscal year, analysts expect the company to post earnings of $7.30 per share, with EPS estimates ranging from $7.09 to $7.47. Zacks’ EPS calculations are an average average based on a survey of sell-side research analysts who follow EastGroup Properties.
EastGroup Properties (NYSE:EGP – Get Rating) last released quarterly earnings data on Tuesday, April 26. The real estate investment trust reported EPS of $0.81 for the quarter, missing analyst consensus estimates of $1.62 per ($0.81). EastGroup Properties had a net margin of 45.65% and a return on equity of 12.84%. In the same quarter a year earlier, the company posted earnings per share of $1.45.
A number of analysts have recently commented on the stock. Mizuho raised its price target on shares of EastGroup Properties from $160.00 to $215.00 in a research report on Thursday, January 13. Truist Financial raised its target price on EastGroup Properties from $200.00 to $205.00 in a Tuesday, January 18 report. Piper Sandler lowered its target price on EastGroup Properties from $245.00 to $230.00 in a report released Wednesday. Zacks Investment Research upgraded EastGroup Properties from a “buy” to a “hold” rating in a Friday, April 15 report. Finally, Wells Fargo & Company lowered its price target on EastGroup Properties from $220.00 to $184.00 and set an “equal weight” rating for the company in a Tuesday, March 15 report. Nine equity research analysts gave the stock a hold rating and two gave the company a buy rating. 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 equity position in EastGroup Properties during Q1 worth approximately $28,000. EverSource Wealth Advisors LLC acquired a new stake in EastGroup Properties in Q4 valued at approximately $28,000. Consolidated Planning Corp acquired a new stake in EastGroup Properties in Q3 worth approximately $29,000. Confluence Wealth Services Inc. acquired a new stake in EastGroup Properties in Q4 valued at approximately $29,000. Finally, UMB Bank NA MO acquired a new stake in EastGroup Properties in Q4 valued at approximately $32,000. Institutional investors hold 91.02% of the company’s shares.
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 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 capitalization 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 14. Shareholders of record on Thursday, March 31 received a dividend of $1.10 per share. The ex-dividend date was Wednesday, March 30. This represents a dividend of $4.40 on an annualized basis and a dividend yield of 2.61%. EastGroup Properties’ dividend payout ratio is 92.83%.
EastGroup Properties Company Profile (Get a rating)
EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 Company, is a self-managed real estate investment trust focused on developing, acquiring and operating industrial properties in major Sunbelt markets across the United States. States, with an emphasis on the states of Florida, Texas, Arizona, California and North Carolina.
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