EastGroup Properties, Inc. (NYSE:EGP) – Equities research analysts at KeyCorp boosted their FY2018 EPS estimates for shares of EastGroup Properties in a research report issued to clients and investors on Thursday, April 5th. KeyCorp analyst C. Mailman now expects that the real estate investment trust will post earnings of $4.52 per share for the year, up from their prior estimate of $4.47.
EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. EastGroup Properties had a net margin of 30.34% and a return on equity of 11.58%. The business had revenue of $71.36 million during the quarter, compared to analyst estimates of $69.66 million. During the same quarter in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year.
EGP has been the subject of several other research reports. ValuEngine upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. SunTrust Banks upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. Morgan Stanley restated an “equal weight” rating and issued a $82.00 price target on shares of EastGroup Properties in a report on Thursday, December 14th. Finally, Mizuho restated a “hold” rating and issued a $90.00 price target on shares of EastGroup Properties in a report on Sunday, February 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $88.64.
NYSE:EGP opened at $81.43 on Monday. EastGroup Properties has a one year low of $76.07 and a one year high of $95.03. The stock has a market capitalization of $2,831.91, a PE ratio of 19.12, a price-to-earnings-growth ratio of 4.20 and a beta of 0.91.
Institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new position in shares of EastGroup Properties in the 4th quarter worth approximately $148,000. MML Investors Services LLC purchased a new position in shares of EastGroup Properties in the 4th quarter worth approximately $218,000. Vident Investment Advisory LLC purchased a new position in shares of EastGroup Properties in the 4th quarter worth approximately $229,000. Connable Office Inc. purchased a new position in shares of EastGroup Properties in the 4th quarter worth approximately $258,000. Finally, Capital Fund Management S.A. purchased a new position in shares of EastGroup Properties in the 4th quarter worth approximately $274,000. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Fredric H. Gould acquired 3,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average price of $80.05 per share, with a total value of $240,150.00. Following the transaction, the director now directly owns 13,688 shares in the company, valued at $1,095,724.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Wednesday, March 21st were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Tuesday, March 20th. EastGroup Properties’s payout ratio is currently 60.09%.
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EastGroup Properties Company Profile
EastGroup Properties, Inc is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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