EastGroup Properties (EGP) Set to Announce Earnings on Tuesday

EastGroup Properties (NYSE:EGPGet Rating) will post its quarterly earnings results after the market closes on Tuesday, April 26th. Analysts expect EastGroup Properties to post earnings of $1.62 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

EastGroup Properties (NYSE:EGPGet Rating) last posted its earnings results on Monday, February 7th. The real estate investment trust reported $1.75 EPS for the quarter, topping 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 company had revenue of $107.37 million for the quarter, compared to the consensus estimate of $106.38 million. During the same period in the previous year, the business earned $1.38 earnings per share. EastGroup Properties’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts expect EastGroup Properties to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Shares of NYSE:EGP opened at $200.31 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market capitalization of $8.26 billion, a P/E ratio of 51.49, a P/E/G ratio of 4.12 and a beta of 0.86. EastGroup Properties has a 52-week low of $148.69 and a 52-week high of $229.84. The firm has a fifty day moving average of $195.66.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, March 30th. EastGroup Properties’s payout ratio is 113.11%.

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in EastGroup Properties during the fourth quarter worth approximately $28,000. Marshall Wace LLP purchased a new stake in EastGroup Properties during the fourth quarter worth approximately $81,000. NewEdge Advisors LLC purchased a new stake in EastGroup Properties during the fourth quarter worth approximately $228,000. Virtu Financial LLC purchased a new stake in EastGroup Properties during the fourth quarter worth approximately $254,000. Finally, MML Investors Services LLC grew its stake in EastGroup Properties by 7.6% during the fourth quarter. MML Investors Services LLC now owns 2,454 shares of the real estate investment trust’s stock worth $559,000 after buying an additional 173 shares during the period. 93.57% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on EGP. BTIG Research lifted their price target on shares of EastGroup Properties from $164.00 to $248.00 and gave the stock a “buy” rating in a report on Thursday, December 23rd. Wells Fargo & Company lowered their price target on shares of EastGroup Properties from $220.00 to $184.00 and set an “equal weight” rating for the company in a report on Tuesday, March 15th. StockNews.com initiated coverage on shares of EastGroup Properties in a report on Thursday, March 31st. They set a “hold” rating for the company. Truist Financial lifted their price target on shares of EastGroup Properties from $200.00 to $205.00 in a report on Tuesday, January 18th. Finally, Zacks Investment Research downgraded shares of EastGroup Properties from a “buy” rating to a “hold” rating in a report on Friday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $210.44.

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.

See Also

Earnings History for EastGroup Properties (NYSE:EGP)

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