Press coverage about Eastgroup Properties (NYSE:EGP) has been trending somewhat positive on Saturday, according to Accern Sentiment Analysis. The research group scores the sentiment of press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Eastgroup Properties earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news coverage about the real estate investment trust an impact score of 46.0058660422008 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Shares of Eastgroup Properties (NYSE:EGP) opened at $84.01 on Friday. The company has a market cap of $2,920.15, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 4.33 and a beta of 0.95. Eastgroup Properties has a 1 year low of $70.94 and a 1 year high of $95.03.
Eastgroup Properties (NYSE:EGP) last issued its earnings results 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 company had revenue of $71.36 million for the quarter, compared to analyst estimates of $69.66 million. Eastgroup Properties had a net margin of 30.34% and a return on equity of 11.58%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. analysts forecast that Eastgroup Properties will post 4.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 21st will be given a dividend of $0.64 per share. The ex-dividend date is Tuesday, March 20th. This represents a $2.56 annualized dividend and a dividend yield of 3.05%. Eastgroup Properties’s payout ratio is currently 105.35%.
EGP has been the topic of a number of analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $82.00 price objective on shares of Eastgroup Properties in a research report on Thursday, December 14th. Zacks Investment Research lowered shares of Eastgroup Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. ValuEngine upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. SunTrust Banks upgraded shares of Eastgroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Mizuho reiterated a “hold” rating and issued a $90.00 price objective on shares of Eastgroup Properties in a research report on Sunday, February 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.42.
In other news, Director Fredric H. Gould purchased 3,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was acquired at an average price of $80.05 per share, with a total value of $240,150.00. Following the purchase, the director now directly owns 13,688 shares of the company’s stock, valued at approximately $1,095,724.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by insiders.
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About Eastgroup Properties
EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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