Eastgroup Properties (NYSE:EGP) updated its FY 2019 earnings guidance on Monday. The company provided earnings per share guidance of $4.84-4.94 for the period.

Several brokerages have commented on EGP. Zacks Investment Research raised shares of Eastgroup Properties from a hold rating to a buy rating and set a $125.00 target price for the company in a research note on Tuesday, April 9th. SunTrust Banks upped their target price on shares of Eastgroup Properties from $92.00 to $98.00 and gave the company a hold rating in a research note on Tuesday, February 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Eastgroup Properties presently has a consensus rating of Hold and a consensus target price of $101.52.

Shares of Eastgroup Properties stock traded down $1.24 on Monday, hitting $109.45. The company had a trading volume of 175,345 shares, compared to its average volume of 190,511. The stock has a market capitalization of $4.07 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 4.65 and a beta of 0.84. Eastgroup Properties has a twelve month low of $84.31 and a twelve month high of $114.32.

Eastgroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $1.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.18. The company had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $76.80 million. Eastgroup Properties had a net margin of 29.46% and a return on equity of 10.32%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, equities research analysts forecast that Eastgroup Properties will post 4.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Thursday, March 28th. Eastgroup Properties’s dividend payout ratio (DPR) is presently 61.67%.

In other news, insider John F. Coleman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $111.09, for a total value of $1,110,900.00. Following the completion of the transaction, the insider now owns 99,657 shares in the company, valued at $11,070,896.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

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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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