Wall Street analysts expect Eastgroup Properties Inc (NYSE:EGP) to report earnings per share of $1.18 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Eastgroup Properties’ earnings. The lowest EPS estimate is $1.17 and the highest is $1.18. Eastgroup Properties reported earnings per share of $1.14 in the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The firm is expected to report its next earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that Eastgroup Properties will report full year earnings of $4.67 per share for the current financial year, with EPS estimates ranging from $4.66 to $4.68. For the next financial year, analysts anticipate that the company will report earnings of $4.83 per share, with EPS estimates ranging from $4.77 to $4.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Eastgroup Properties.

Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 18th. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.14. Eastgroup Properties had a return on equity of 10.69% and a net margin of 29.80%. The business had revenue of $75.30 million during the quarter, compared to the consensus estimate of $74.65 million. During the same period in the prior year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year.

Several research analysts have weighed in on EGP shares. Zacks Investment Research downgraded Eastgroup Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. ValuEngine downgraded Eastgroup Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. SunTrust Banks set a $92.00 price target on Eastgroup Properties and gave the stock a “hold” rating in a research note on Tuesday, October 23rd. Finally, Jefferies Financial Group started coverage on Eastgroup Properties in a research note on Friday, November 30th. They issued a “hold” rating and a $99.00 price target for the company. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Eastgroup Properties currently has a consensus rating of “Hold” and an average price target of $98.00.

In other news, EVP John F. Coleman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $99.57, for a total transaction of $995,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brent Wood sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $99.95, for a total value of $599,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,264 shares of company stock valued at $1,621,011 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Investors Inc. PA bought a new position in shares of Eastgroup Properties during the 2nd quarter valued at approximately $115,000. NumerixS Investment Technologies Inc bought a new position in shares of Eastgroup Properties during the 2nd quarter valued at approximately $133,000. Lido Advisors LLC purchased a new stake in Eastgroup Properties during the 2nd quarter valued at $203,000. Nissay Asset Management Corp Japan ADV purchased a new stake in Eastgroup Properties during the 2nd quarter valued at $207,000. Finally, OppenheimerFunds Inc. purchased a new stake in Eastgroup Properties during the 2nd quarter valued at $222,000. Hedge funds and other institutional investors own 94.61% of the company’s stock.

EGP stock traded down $0.64 during midday trading on Thursday, hitting $98.35. The company’s stock had a trading volume of 5,247 shares, compared to its average volume of 141,475. Eastgroup Properties has a 12 month low of $77.74 and a 12 month high of $101.91. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 4.09 and a beta of 0.69.

Eastgroup Properties Company Profile

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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