EastGroup Properties, Inc. (NYSE:EGP) – Stock analysts at Cantor Fitzgerald increased their FY2018 earnings per share estimates for EastGroup Properties in a research report issued on Monday. Cantor Fitzgerald analyst G. Mehta now anticipates that the real estate investment trust will post earnings per share of $4.48 for the year, up from their previous forecast of $4.47. Cantor Fitzgerald has a “Neutral” rating and a $84.00 price target on the stock.

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, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.61. The business had revenue of $68.75 million during the quarter, compared to the consensus estimate of $68.74 million. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.90%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share.

COPYRIGHT VIOLATION WARNING: “FY2018 EPS Estimates for EastGroup Properties, Inc. Lifted by Cantor Fitzgerald (EGP)” was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/24/fy2018-eps-estimates-for-eastgroup-properties-inc-lifted-by-cantor-fitzgerald-egp.html.

Other analysts have also recently issued research reports about the stock. ValuEngine raised shares of EastGroup Properties from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Sandler O’Neill raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $90.00 to $104.00 in a research note on Tuesday, September 5th. Bank of America Corporation raised shares of EastGroup Properties from a “neutral” rating to a “buy” rating and increased their price target for the company from $91.00 to $96.00 in a research note on Wednesday, August 16th. Zacks Investment Research raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Monday, October 2nd. Finally, DA Davidson set a $100.00 price target on shares of EastGroup Properties and gave the company a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. EastGroup Properties presently has a consensus rating of “Hold” and an average target price of $86.18.

Shares of EastGroup Properties (NYSE EGP) traded down 0.508% during mid-day trading on Tuesday, reaching $89.105. 67,515 shares of the company’s stock traded hands. The stock has a market capitalization of $3.04 billion, a PE ratio of 37.345 and a beta of 0.98. EastGroup Properties has a 12-month low of $63.99 and a 12-month high of $93.61. The company’s 50-day moving average price is $90.01 and its 200-day moving average price is $84.53.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from EastGroup Properties’s previous quarterly dividend of $0.62. EastGroup Properties’s dividend payout ratio (DPR) is presently 107.56%.

Several large investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its position in shares of EastGroup Properties by 117.5% during the 3rd quarter. First Trust Advisors LP now owns 21,746 shares of the real estate investment trust’s stock worth $1,916,000 after purchasing an additional 11,747 shares during the period. Eqis Capital Management Inc. boosted its position in shares of EastGroup Properties by 22.2% during the 3rd quarter. Eqis Capital Management Inc. now owns 3,528 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 640 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of EastGroup Properties by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,562 shares of the real estate investment trust’s stock worth $3,231,000 after purchasing an additional 301 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of EastGroup Properties during the 2nd quarter worth approximately $614,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of EastGroup Properties by 6.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,915 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 186 shares during the period. 96.39% of the stock is owned by hedge funds and other institutional investors.

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)

Receive News & Ratings for EastGroup Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EastGroup Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.