Equities analysts expect that Eastgroup Properties Inc (NYSE:EGP) will report earnings of $1.14 per share for the current quarter, Zacks reports. Five analysts have made estimates for Eastgroup Properties’ earnings, with estimates ranging from $1.12 to $1.15. Eastgroup Properties reported earnings of $1.08 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The firm is expected to report its next quarterly earnings report on Thursday, October 18th.

On average, analysts expect that Eastgroup Properties will report full year earnings of $4.61 per share for the current fiscal year, with EPS estimates ranging from $4.57 to $4.63. For the next fiscal year, analysts forecast that the business will post earnings of $4.75 per share, with EPS estimates ranging from $4.71 to $4.85. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover Eastgroup Properties.

Eastgroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, July 19th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Eastgroup Properties had a return on equity of 10.26% and a net margin of 28.00%. The firm had revenue of $74.90 million during the quarter, compared to the consensus estimate of $72.60 million. During the same period last year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis.

Several research firms have issued reports on EGP. Mizuho reiterated a “hold” rating and issued a $92.00 price objective on shares of Eastgroup Properties in a research report on Monday, July 30th. Sandler O’Neill set a $105.00 price objective on Eastgroup Properties and gave the stock a “buy” rating in a research report on Monday, July 23rd. Zacks Investment Research cut Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Stifel Nicolaus upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $93.00 to $103.00 in a research report on Thursday, May 31st. Finally, ValuEngine upgraded Eastgroup Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Eastgroup Properties has a consensus rating of “Hold” and an average price target of $95.09.

In other news, EVP John F. Coleman sold 5,000 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $96.27, for a total value of $481,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David H. Hoster II sold 1,032 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $93.38, for a total value of $96,368.16. The disclosure for this sale can be found here. Insiders sold 10,997 shares of company stock valued at $1,061,055 in the last quarter. 2.30% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Raymond James & Associates increased its position in shares of Eastgroup Properties by 1.1% in the second quarter. Raymond James & Associates now owns 49,663 shares of the real estate investment trust’s stock valued at $4,746,000 after buying an additional 548 shares in the last quarter. 6 Meridian increased its position in shares of Eastgroup Properties by 7.9% in the first quarter. 6 Meridian now owns 7,707 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 566 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Eastgroup Properties by 4.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 13,089 shares of the real estate investment trust’s stock valued at $1,251,000 after buying an additional 576 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Eastgroup Properties by 18.4% in the first quarter. Hsbc Holdings PLC now owns 3,784 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 589 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its position in shares of Eastgroup Properties by 4.0% in the second quarter. MetLife Investment Advisors LLC now owns 15,737 shares of the real estate investment trust’s stock valued at $1,504,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

NYSE:EGP traded up $1.80 during trading hours on Friday, hitting $98.97. The company’s stock had a trading volume of 127,870 shares, compared to its average volume of 217,960. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 4.40 and a beta of 0.84. Eastgroup Properties has a 52-week low of $77.74 and a 52-week high of $99.01.

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.

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Earnings History and Estimates for Eastgroup Properties (NYSE:EGP)

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