EastGroup Properties, Inc. (NYSE:EGP) – Equities researchers at DA Davidson increased their FY2017 earnings per share (EPS) estimates for EastGroup Properties in a research note issued to investors on Friday. DA Davidson analyst B. Oxford now forecasts that the real estate investment trust will earn $4.22 per share for the year, up from their previous forecast of $4.21. DA Davidson has a “Hold” rating and a $100.00 price target on the stock. DA Davidson also issued estimates for EastGroup Properties’ Q4 2017 earnings at $1.10 EPS, Q1 2019 earnings at $1.08 EPS, Q2 2019 earnings at $1.17 EPS, Q3 2019 earnings at $1.18 EPS and FY2019 earnings at $4.63 EPS.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Tuesday, July 11th. ValuEngine raised EastGroup Properties from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Sandler O’Neill raised EastGroup Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $104.00 in a report on Tuesday, September 5th. Cantor Fitzgerald reissued a “hold” rating and set a $75.00 target price on shares of EastGroup Properties in a report on Tuesday, July 25th. Finally, Bank of America Corporation raised EastGroup Properties from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $91.00 to $96.00 in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $85.73.

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EastGroup Properties (NYSE EGP) opened at 90.90 on Monday. The firm has a market cap of $3.10 billion, a PE ratio of 38.10 and a beta of 0.98. EastGroup Properties has a 52 week low of $63.99 and a 52 week high of $93.61. The stock has a 50 day moving average of $90.00 and a 200-day moving average of $84.28.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.61. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.90%. The company had revenue of $68.75 million during the quarter, compared to analysts’ expectations of $68.74 million. During the same quarter in the prior year, the company posted $1.04 EPS. The business’s revenue was up 8.8% on a year-over-year basis.

Hedge funds have recently bought and sold shares of the stock. First Mercantile Trust Co. raised its stake in EastGroup Properties by 1.8% in the second quarter. First Mercantile Trust Co. now owns 1,720 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 30 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in EastGroup Properties by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,454 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 234 shares in the last quarter. Riverhead Capital Management LLC raised its stake in EastGroup Properties by 25.0% in the second quarter. Riverhead Capital Management LLC now owns 2,500 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 500 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in EastGroup Properties in the second quarter valued at about $216,000. Finally, Advisor Group Inc. raised its stake in EastGroup Properties by 17.7% in the second quarter. Advisor Group Inc. now owns 2,747 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 414 shares in the last quarter. 96.39% of the stock is owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, September 14th. This is an increase from EastGroup Properties’s previous quarterly dividend of $0.62. EastGroup Properties’s payout ratio is 107.56%.

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.

Earnings History and Estimates for EastGroup Properties (NYSE:EGP)

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