Press coverage about EastGroup Properties (NYSE:EGP) has been trending somewhat positive on Tuesday, Alpha One reports. Alpha One, a subsidiary of Accern, identifies positive and negative press coverage by monitoring more than 20 million news and blog sources. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. EastGroup Properties earned a news impact score of 0.08 on Alpha One’s scale. Alpha One also gave news stories about the real estate investment trust an impact score of 51 out of 100, indicating that recent press coverage is somewhat likely to have an effect on the company’s share price in the next few days.
Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of EastGroup Properties in a report on Tuesday, March 7th. Evercore ISI reiterated an “underperform” rating and issued a $73.00 price target (up from $69.00) on shares of EastGroup Properties in a research report on Sunday, April 23rd. Morgan Stanley upgraded shares of EastGroup Properties from an “underweight” rating to an “equal weight” rating and set a $76.00 price target on the stock in a research report on Wednesday, April 12th. BMO Capital Markets reiterated a “hold” rating and issued a $70.00 price target on shares of EastGroup Properties in a research report on Wednesday, March 22nd. Finally, Mizuho increased their price target on shares of EastGroup Properties from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. EastGroup Properties has a consensus rating of “Hold” and a consensus price target of $76.25.
Shares of EastGroup Properties (EGP) traded down 1.34% during mid-day trading on Tuesday, hitting $84.85. 53,175 shares of the stock traded hands. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 32.23 and a beta of 1.01. EastGroup Properties has a 12 month low of $63.99 and a 12 month high of $87.40. The firm has a 50 day moving average of $81.27 and a 200 day moving average of $75.59.
EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, April 20th. The real estate investment trust reported $0.99 EPS for the quarter, topping the consensus estimate of $0.35 by $0.64. The company had revenue of $66.15 million for the quarter, compared to analyst estimates of $66.76 million. EastGroup Properties had a net margin of 33.62% and a return on equity of 13.70%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, equities analysts expect that EastGroup Properties will post $1.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, May 16th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.88%. EastGroup Properties’s payout ratio is currently 93.94%.
In other news, insider Brent Wood sold 4,000 shares of EastGroup Properties stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $78.72, for a total transaction of $314,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David H. Hoster II sold 9,000 shares of EastGroup Properties stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $78.82, for a total value of $709,380.00. Following the transaction, the director now directly owns 186,357 shares of the company’s stock, valued at approximately $14,688,658.74. The disclosure for this sale can be found here. Insiders have sold a total of 20,109 shares of company stock worth $1,601,930 over the last 90 days. Insiders own 2.90% of the company’s stock.
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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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