EastGroup Properties (EGP) to Release Earnings on Tuesday

EastGroup Properties (NYSE:EGPGet Free Report) is scheduled to release its earnings data after the market closes on Tuesday, April 23rd. Analysts expect EastGroup Properties to post earnings of $2.01 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $159.27 on Friday. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $177.23 and a 200 day simple moving average of $175.32. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.19%. The ex-dividend date was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio (DPR) is currently 115.19%.

Insiders Place Their Bets

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On EastGroup Properties

A number of large investors have recently bought and sold shares of EGP. American Century Companies Inc. acquired a new stake in EastGroup Properties in the first quarter worth $354,000. Group One Trading L.P. bought a new position in shares of EastGroup Properties in the first quarter valued at $41,000. Private Advisor Group LLC lifted its stake in shares of EastGroup Properties by 10.3% in the first quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 113 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of EastGroup Properties in the first quarter valued at $12,520,000. Finally, Vanguard Group Inc. lifted its stake in shares of EastGroup Properties by 2.2% in the first quarter. Vanguard Group Inc. now owns 6,172,033 shares of the real estate investment trust’s stock valued at $1,254,651,000 after buying an additional 133,344 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EGP shares. JPMorgan Chase & Co. started coverage on shares of EastGroup Properties in a research report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 price target for the company. Barclays started coverage on shares of EastGroup Properties in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 price target for the company. Truist Financial upped their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research report on Tuesday, February 20th. Royal Bank of Canada upped their price target on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research report on Friday, February 16th. Finally, KeyCorp upped their price target on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $188.36.

View Our Latest Analysis on EastGroup Properties

EastGroup Properties Company Profile

(Get Free Report)

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, 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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Earnings History for EastGroup Properties (NYSE:EGP)

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