News headlines about Eastgroup Properties (NYSE:EGP) have trended somewhat positive this week, Accern Sentiment Analysis reports. Accern identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Eastgroup Properties earned a daily sentiment score of 0.18 on Accern’s scale. Accern also assigned media stories about the real estate investment trust an impact score of 45.9892510093338 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Several analysts have recently commented on EGP shares. Cantor Fitzgerald raised their target price on Eastgroup Properties from $79.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Bank of America increased their price objective on Eastgroup Properties from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 6th. SunTrust Banks set a $85.00 price objective on Eastgroup Properties and gave the stock a “sell” rating in a report on Sunday, October 29th. ValuEngine upgraded Eastgroup Properties from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research lowered Eastgroup Properties from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $87.42.
Shares of Eastgroup Properties (NYSE EGP) opened at $80.39 on Thursday. Eastgroup Properties has a 1-year low of $69.53 and a 1-year high of $95.03. The stock has a market capitalization of $2,756.04, a price-to-earnings ratio of 33.08, a P/E/G ratio of 4.01 and a beta of 0.92.
Eastgroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Eastgroup Properties had a return on equity of 11.76% and a net margin of 30.34%. The company had revenue of $71.36 million for the quarter, compared to analyst estimates of $69.66 million. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. sell-side analysts expect that Eastgroup Properties will post 4.51 EPS for the current fiscal year.
In other Eastgroup Properties news, CFO Brent Wood sold 3,300 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $90.26, for a total transaction of $297,858.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David H. Hoster II sold 12,250 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 173,880 shares in the company, valued at $16,362,108. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,136 shares of company stock worth $1,779,599. Corporate insiders own 2.90% of the company’s stock.
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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.
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