Eastgroup Properties Inc (NYSE:EGP) – Investment analysts at Jefferies Financial Group boosted their Q2 2019 earnings estimates for shares of Eastgroup Properties in a research note issued to investors on Monday, July 15th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $1.21 for the quarter, up from their previous forecast of $1.20. Jefferies Financial Group also issued estimates for Eastgroup Properties’ Q3 2019 earnings at $1.24 EPS, FY2019 earnings at $4.91 EPS, Q3 2020 earnings at $1.29 EPS, Q4 2020 earnings at $1.31 EPS, FY2020 earnings at $5.13 EPS, Q1 2021 earnings at $1.33 EPS, Q2 2021 earnings at $1.33 EPS and FY2021 earnings at $5.41 EPS.
Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.02. The firm had revenue of $78.79 million for the quarter, compared to analyst estimates of $78.83 million. Eastgroup Properties had a net margin of 26.82% and a return on equity of 9.19%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share.
Other equities research analysts also recently issued reports about the stock. Morgan Stanley downgraded shares of Meili from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $14.00 to $4.20 in a research report on Monday, June 3rd. Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $103.28.
NYSE:EGP opened at $118.47 on Tuesday. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 1.22. The stock’s 50-day simple moving average is $115.97. The company has a market capitalization of $4.35 billion, a P/E ratio of 25.37, a PEG ratio of 4.66 and a beta of 0.81. Eastgroup Properties has a one year low of $87.69 and a one year high of $120.61.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, June 27th. Eastgroup Properties’s payout ratio is presently 61.67%.
In other news, Director David H. Hoster II sold 942 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $110.83, for a total transaction of $104,401.86. Following the completion of the sale, the director now directly owns 174,588 shares of the company’s stock, valued at $19,349,588.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Eastgroup Properties by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 518,819 shares of the real estate investment trust’s stock worth $47,590,000 after purchasing an additional 4,751 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Eastgroup Properties by 22.7% in the 4th quarter. Advisor Group Inc. now owns 5,277 shares of the real estate investment trust’s stock worth $484,000 after purchasing an additional 975 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Eastgroup Properties in the 4th quarter worth approximately $247,000. United Services Automobile Association raised its stake in Eastgroup Properties by 5.4% during the 4th quarter. United Services Automobile Association now owns 9,661 shares of the real estate investment trust’s stock valued at $886,000 after acquiring an additional 499 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Eastgroup Properties by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 548,940 shares of the real estate investment trust’s stock valued at $50,353,000 after acquiring an additional 13,551 shares in the last quarter. 94.50% of the stock is owned by institutional investors.
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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