Eastgroup Properties Inc Announces Quarterly Dividend of $0.57 (EGP)
Eastgroup Properties (NYSE:EGP) announced a quarterly dividend on Thursday, September 4th, Stock Ratings Network reports. Investors of record on Friday, September 19th will be paid a dividend of 0.57 per share on Tuesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.52%.
Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Eastgroup Properties from $4.00 to $58.00 in a research note on Tuesday, July 29th. On the ratings front, analysts at Goldman Sachs initiated coverage on shares of Eastgroup Properties in a research note on Thursday, June 26th. They set a “buy” rating and a $74.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Eastgroup Properties in a research note on Thursday, June 19th. They now have a $65.00 price target on the stock, up previously from $63.50. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.39.
Eastgroup Properties (NYSE:EGP) traded down 0.46% on Thursday, hitting $64.72. The stock had a trading volume of 83,801 shares. Eastgroup Properties has a 1-year low of $55.25 and a 1-year high of $66.24. The stock has a 50-day moving average of $63.86 and a 200-day moving average of $63.33. The company has a market cap of $2.029 billion and a P/E ratio of 56.69.
Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.84 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.85 by $0.01. The company had revenue of $53.80 million for the quarter, compared to the consensus estimate of $53.24 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Eastgroup Properties will post $3.45 earnings per share for the current fiscal year.
EastGroup Properties, Inc (NYSE:EGP) is an equity real estate investment trust (REIT).
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