EastGroup Properties (EGP) Expected to Announce Quarterly Earnings on Wednesday

EastGroup Properties (NYSE:EGP) will likely be issuing its quarterly earnings data after the market closes on Wednesday, April 23rd. Analysts expect the company to announce earnings of $2.11 per share and revenue of $169.67 million for the quarter. EastGroup Properties has set its Q1 2025 guidance at 2.050-2.130 EPS and its FY 2025 guidance at 8.800-9.000 EPS.Investors interested in registering for the company’s conference call can do so using this link.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. On average, analysts expect EastGroup Properties to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

EastGroup Properties Stock Down 0.1 %

Shares of NYSE EGP opened at $156.51 on Wednesday. The company’s 50 day moving average price is $174.05 and its 200-day moving average price is $171.79. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties has a 52-week low of $137.67 and a 52-week high of $192.61. The company has a market capitalization of $8.14 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Monday, March 31st. EastGroup Properties’s dividend payout ratio is presently 120.43%.

Analyst Ratings Changes

EGP has been the subject of a number of recent analyst reports. Evercore ISI reiterated an “in-line” rating and set a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price target on the stock. Truist Financial raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and an average target price of $188.82.

EastGroup Properties Company Profile

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.