Press coverage about Eastgroup Properties (NYSE:EGP) has been trending somewhat positive recently, Accern Sentiment Analysis reports. The research firm ranks the sentiment of media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Eastgroup Properties earned a coverage optimism score of 0.17 on Accern’s scale. Accern also gave headlines about the real estate investment trust an impact score of 46.0058660422008 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
EGP stock opened at $79.79 on Friday. The firm has a market capitalization of $2,832.61, a PE ratio of 32.84, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95. Eastgroup Properties has a twelve month low of $70.94 and a twelve month high of $95.03.
Eastgroup Properties (NYSE:EGP) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $71.36 million for the quarter, compared to the consensus estimate of $69.66 million. Eastgroup Properties had a return on equity of 11.58% and a net margin of 30.34%. Eastgroup Properties’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. equities analysts expect that Eastgroup Properties will post 4.51 EPS for the current fiscal year.
The firm also recently declared 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. This represents a $2.56 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, March 20th. Eastgroup Properties’s dividend payout ratio (DPR) is presently 105.35%.
Several brokerages have recently weighed in on EGP. ValuEngine upgraded Eastgroup Properties from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Sandler O’Neill reissued a “buy” rating and set a $95.00 price target on shares of Eastgroup Properties in a research report on Wednesday, February 7th. Mizuho reaffirmed a “hold” rating and issued a $90.00 target price on shares of Eastgroup Properties in a research report on Sunday, February 4th. Zacks Investment Research lowered Eastgroup Properties from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, SunTrust Banks upgraded Eastgroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $89.00.
In other news, Director Fredric H. Gould bought 3,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $80.05 per share, with a total value of $240,150.00. Following the completion of the transaction, the director now owns 13,688 shares of the company’s stock, valued at $1,095,724.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by insiders.
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Eastgroup Properties Company Profile
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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