EastGroup Properties (NYSE:EGP) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $4.51-4.61 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.51. EastGroup Properties also updated its Q2 guidance to $1.11-1.13 EPS.
EGP traded down $0.72 during trading on Thursday, hitting $84.32. 356,611 shares of the company’s stock traded hands, compared to its average volume of 214,308. EastGroup Properties has a 12-month low of $76.44 and a 12-month high of $95.03. The company has a market cap of $2,943.08, a price-to-earnings ratio of 19.79, a P/E/G ratio of 4.54 and a beta of 0.92.
EastGroup Properties (NYSE:EGP) last issued its 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 return on equity of 11.58% and a net margin of 30.34%. The business had revenue of $71.36 million for the quarter, compared to the consensus estimate of $69.66 million. During the same period last year, the business posted $1.08 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. equities analysts expect that EastGroup Properties will post 4.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Wednesday, March 21st were paid a dividend of $0.64 per share. The ex-dividend date was Tuesday, March 20th. This represents a $2.56 annualized dividend and a yield of 3.04%. EastGroup Properties’s dividend payout ratio is 60.09%.
EGP has been the topic of several recent analyst reports. ValuEngine upgraded EastGroup Properties from a hold rating to a buy rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded EastGroup Properties from a hold rating to a sell rating in a research note on Wednesday, December 27th. SunTrust Banks upgraded EastGroup Properties from a sell rating to a hold rating in a research note on Monday, January 22nd. Finally, Mizuho reiterated a hold rating and set a $90.00 target price on shares of EastGroup Properties in a research note on Sunday, February 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $88.64.
In other news, Director Fredric H. Gould purchased 3,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $80.05 per share, with a total value of $240,150.00. Following the acquisition, the director now directly owns 13,688 shares of the company’s stock, valued at $1,095,724.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.
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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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