Equities research analysts expect that Eastgroup Properties Inc (NYSE:EGP) will announce earnings of $1.10 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Eastgroup Properties’ earnings, with the lowest EPS estimate coming in at $1.10 and the highest estimate coming in at $1.11. Eastgroup Properties posted earnings per share of $1.08 during the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The firm is expected to issue its next quarterly earnings report after the market closes on Wednesday, January 31st.

According to Zacks, analysts expect that Eastgroup Properties will report full year earnings of $4.23 per share for the current fiscal year, with EPS estimates ranging from $4.22 to $4.24. For the next fiscal year, analysts expect that the business will post earnings of $4.46 per share, with EPS estimates ranging from $4.44 to $4.49. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Eastgroup Properties.

Eastgroup Properties (NYSE:EGP) last posted its earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.61. Eastgroup Properties had a return on equity of 11.70% and a net margin of 30.03%. The business had revenue of $68.75 million for the quarter, compared to analyst estimates of $68.74 million. During the same period in the previous year, the firm earned $1.04 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year.

A number of brokerages have commented on EGP. DA Davidson set a $100.00 price objective on Eastgroup Properties and gave the company a “hold” rating in a report on Friday, October 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $82.00 price objective on shares of Eastgroup Properties in a report on Thursday, December 14th. Zacks Investment Research lowered Eastgroup Properties from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Bank of America upped their price objective on Eastgroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a report on Monday, November 6th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $79.00 price objective on shares of Eastgroup Properties in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $88.00.

Shares of Eastgroup Properties (EGP) traded up $0.82 during midday trading on Thursday, reaching $85.35. The company’s stock had a trading volume of 190,600 shares, compared to its average volume of 183,082. Eastgroup Properties has a 52-week low of $67.69 and a 52-week high of $95.03. The firm has a market cap of $2,909.92, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 4.41 and a beta of 0.99.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.64 per share. The ex-dividend date was Thursday, December 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.00%. Eastgroup Properties’s payout ratio is 107.56%.

In other news, insider Bruce Corkern sold 3,586 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $91.75, for a total transaction of $329,015.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David H. Hoster II sold 12,250 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $94.10, for a total value of $1,152,725.00. Following the sale, the director now owns 173,880 shares of the company’s stock, valued at $16,362,108. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,668 shares of company stock valued at $2,105,037. Corporate insiders own 2.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Eastgroup Properties by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 400,722 shares of the real estate investment trust’s stock worth $35,416,000 after buying an additional 17,580 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Eastgroup Properties by 16.3% in the fourth quarter. Bank of Montreal Can now owns 25,717 shares of the real estate investment trust’s stock valued at $2,273,000 after buying an additional 3,600 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Eastgroup Properties by 6.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the real estate investment trust’s stock valued at $1,308,000 after buying an additional 900 shares during the period. Susquehanna International Group LLP increased its stake in shares of Eastgroup Properties by 173.8% in the third quarter. Susquehanna International Group LLP now owns 20,322 shares of the real estate investment trust’s stock valued at $1,791,000 after buying an additional 12,900 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Eastgroup Properties by 2.9% in the third quarter. Public Employees Retirement System of Ohio now owns 39,694 shares of the real estate investment trust’s stock valued at $3,498,000 after buying an additional 1,132 shares during the period. Hedge funds and other institutional investors own 96.20% of the company’s stock.

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About Eastgroup Properties

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

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