Wall Street brokerages forecast that EastGroup Properties, Inc. (NYSE:EGP – Get Rating) will announce earnings of $1.62 per share for the current quarter, according to Zacks. Five analysts have provided estimates for EastGroup Properties’ earnings, with the highest EPS estimate coming in at $1.65 and the lowest estimate coming in at $1.60. EastGroup Properties reported earnings per share of $1.45 during the same quarter last year, which suggests a positive year-over-year growth rate of 11.7%. The company is expected to report its next earnings results after the market closes on Monday, January 1st.
On average, analysts expect that EastGroup Properties will report full-year earnings of $6.67 per share for the current year, with EPS estimates ranging from $6.59 to $6.75. For the next year, analysts expect that the firm will post earnings of $7.28 per share, with EPS estimates ranging from $7.09 to $7.42. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for EastGroup Properties.
EastGroup Properties (NYSE:EGP – Get Rating) last issued its quarterly earnings data on Monday, February 7th. The real estate investment trust reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.96. EastGroup Properties had a return on equity of 11.09% and a net margin of 38.48%. The business had revenue of $107.37 million for the quarter, compared to analyst estimates of $106.38 million. During the same quarter in the prior year, the firm posted $1.38 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis.
NYSE:EGP opened at $199.15 on Thursday. The firm’s 50-day moving average is $195.66 and its 200-day moving average is $198.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.04 and a current ratio of 0.04. EastGroup Properties has a 52-week low of $148.69 and a 52-week high of $229.84. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 51.20, a PEG ratio of 4.12 and a beta of 0.86.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were issued a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $4.40 dividend on an annualized basis and a yield of 2.21%. EastGroup Properties’s payout ratio is currently 113.11%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC boosted its holdings in EastGroup Properties by 0.5% during the 3rd quarter. United Capital Financial Advisers LLC now owns 10,675 shares of the real estate investment trust’s stock worth $1,779,000 after acquiring an additional 57 shares during the last quarter. Lazard Asset Management LLC increased its holdings in EastGroup Properties by 13.9% during the fourth quarter. Lazard Asset Management LLC now owns 468 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 57 shares during the last quarter. Whittier Trust Co. grew its holdings in EastGroup Properties by 4.8% during the fourth quarter. Whittier Trust Co. now owns 1,259 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 58 shares during the period. Commonwealth Equity Services LLC raised its stake in EastGroup Properties by 3.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,897 shares of the real estate investment trust’s stock valued at $432,000 after acquiring an additional 60 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its stake in EastGroup Properties by 1.1% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 6,745 shares of the real estate investment trust’s stock valued at $1,537,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.
About EastGroup Properties (Get Rating)
EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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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