EastGroup Properties, Inc. (NYSE:EGP) to Release Earnings on Tuesday
EastGroup Properties, Inc. (NYSE:EGP) is set to announce its earnings results after the market closes on Tuesday, July 25th. Analysts expect the company to announce earnings of $0.45 per share for the quarter. EastGroup Properties has set its FY17 guidance at $4.18 to $4.28 EPS.
EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Thursday, April 20th. The real estate investment trust reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.64. EastGroup Properties had a return on equity of 13.70% and a net margin of 33.62%. The business had revenue of $66.15 million during the quarter, compared to analyst estimates of $66.76 million. During the same quarter last year, the company posted $0.91 EPS. EastGroup Properties’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect EastGroup Properties to post $4.23 EPS for the current fiscal year and $4.44 EPS for the next fiscal year.
EastGroup Properties, Inc. (NYSE:EGP) opened at 83.76 on Tuesday. EastGroup Properties, Inc. has a 52-week low of $63.99 and a 52-week high of $87.40. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 31.81 and a beta of 0.97. The company has a 50 day moving average price of $82.71 and a 200-day moving average price of $76.26.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Tuesday, May 16th were issued a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.96%. EastGroup Properties’s dividend payout ratio is presently 93.94%.
A number of equities research analysts recently commented on the company. BidaskClub downgraded EastGroup Properties from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Tuesday, July 11th. Mizuho upped their price objective on EastGroup Properties from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 24th. Stifel Nicolaus upped their price objective on EastGroup Properties from $73.00 to $78.00 and gave the company a “hold” rating in a report on Monday, April 24th. Finally, Evercore ISI reiterated an “underperform” rating and issued a $73.00 price objective (up previously from $69.00) on shares of EastGroup Properties in a report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $77.38.
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In other EastGroup Properties news, Director David H. Hoster II sold 9,000 shares of the stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $78.82, for a total value of $709,380.00. Following the completion of the sale, the director now directly owns 186,357 shares in the company, valued at $14,688,658.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brent Wood sold 4,000 shares of the stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $78.72, for a total value of $314,880.00. The disclosure for this sale can be found here. Insiders sold 20,109 shares of company stock valued at $1,601,930 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.
EastGroup Properties Company Profile
EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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