Eastgroup Properties (EGP) to Release Earnings on Tuesday

Eastgroup Properties (NYSE:EGP) is scheduled to release its earnings data after the market closes on Tuesday, January 30th. Analysts expect Eastgroup Properties to post earnings of $0.49 per share for the quarter.

Eastgroup Properties (EGP) opened at $86.86 on Tuesday. The company has a market cap of $2,990.00, a PE ratio of 36.34, a PEG ratio of 4.42 and a beta of 0.99. Eastgroup Properties has a fifty-two week low of $67.69 and a fifty-two week high of $95.03.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.64 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.95%. Eastgroup Properties’s dividend payout ratio (DPR) is currently 107.11%.

A number of research firms have recently commented on EGP. SunTrust Banks raised shares of Eastgroup Properties from a “sell” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised shares of Eastgroup Properties from a “sell” rating to a “hold” rating and set a $95.00 target price for the company in a report on Tuesday, January 16th. Cantor Fitzgerald reissued a “hold” rating and issued a $79.00 target price on shares of Eastgroup Properties in a report on Friday, October 20th. Mizuho cut shares of Eastgroup Properties from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $82.00 target price on shares of Eastgroup Properties in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $88.00.

In other Eastgroup Properties news, insider Bruce Corkern sold 3,586 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were 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 accessible through this link. Also, CFO Brent Wood sold 3,300 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $90.26, for a total transaction of $297,858.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,668 shares of company stock valued at $2,105,037. 2.90% of the stock is owned by company insiders.

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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 for Eastgroup Properties (NYSE:EGP)

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