EastGroup Properties (EGP) Set to Announce Earnings on Wednesday

EastGroup Properties (NYSE:EGP) is scheduled to release its earnings data after the market closes on Wednesday, April 18th. Analysts expect EastGroup Properties to post earnings of $0.44 per share for the quarter. EastGroup Properties has set its Q1 guidance at $1.11 EPS and its FY18 guidance at $4.45-4.55 EPS.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $69.66 million. EastGroup Properties had a return on equity of 11.58% and a net margin of 30.34%. EastGroup Properties’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. On average, analysts expect EastGroup Properties to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

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NYSE:EGP opened at $82.85 on Tuesday. The firm has a market capitalization of $2,845.46, a PE ratio of 19.45, a P/E/G ratio of 4.38 and a beta of 0.91. EastGroup Properties has a one year low of $76.44 and a one year high of $95.03.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Wednesday, March 21st were paid a $0.64 dividend. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $2.56 annualized dividend and a dividend yield of 3.09%. EastGroup Properties’s dividend payout ratio (DPR) is 60.09%.

Several research firms have recently commented on EGP. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Tuesday, April 3rd. ValuEngine upgraded EastGroup Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Sandler O’Neill reiterated a “buy” rating and issued a $95.00 price target on shares of EastGroup Properties in a research note on Wednesday, February 7th. Mizuho reiterated a “hold” rating and issued a $90.00 price target on shares of EastGroup Properties in a research note on Sunday, February 4th. Finally, SunTrust Banks upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.64.

In other EastGroup Properties news, Director Fredric H. Gould purchased 3,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $80.05 per share, for a total transaction of $240,150.00. Following the purchase, the director now owns 13,688 shares of the company’s stock, valued at approximately $1,095,724.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.90% of the company’s stock.

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About EastGroup Properties

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.

Earnings History for EastGroup Properties (NYSE:EGP)

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