EastGroup Properties Given “Hold” Rating at BMO Capital Markets (EGP)
EastGroup Properties (NYSE:EGP)‘s stock had its “hold” rating reiterated by equities researchers at BMO Capital Markets in a research report issued on Thursday, Analyst Ratings Network reports. They currently have a $64.00 target price on the stock. BMO Capital Markets’ price objective indicates a potential upside of 10.04% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of EastGroup Properties (NYSE:EGP) from $60.00 to $54.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of EastGroup Properties (NYSE:EGP) from $65.00 to $68.00 in a research note to investors on Tuesday, July 23rd. Finally, analysts at SunTrust initiated coverage on shares of EastGroup Properties (NYSE:EGP) in a research note to investors on Friday, July 12th. They set a “neutral” rating on the stock.
Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.00.
EastGroup Properties (NYSE:EGP) traded down 0.75% on Thursday, hitting $58.16. The stock had a trading volume of 108,197 shares. EastGroup Properties has a 52-week low of $49.72 and a 52-week high of $66.99. The stock has a 50-day moving average of $59.24 and a 200-day moving average of $59.47. The company has a market cap of $1.747 billion and a P/E ratio of 51.54.
EastGroup Properties (NYSE:EGP) last released its earnings data on Thursday, July 18th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.03. The company had revenue of $49.20 million for the quarter, compared to the consensus estimate of $48.09 million. During the same quarter last year, the company posted $0.77 earnings per share. EastGroup Properties’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that EastGroup Properties will post $3.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Tuesday, September 17th. This is a boost from EastGroup Properties’s previous quarterly dividend of $0.53.
EastGroup Properties, Inc (NYSE:EGP) is an equity real estate investment trust (REIT).
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