EastGroup Properties, Inc. (NYSE:EGP) Raises Dividend to $1.75 Per Share

EastGroup Properties, Inc. (NYSE:EGP) declared a quarterly dividend on Thursday, August 27th. Stockholders of record on Wednesday, September 30th will be given a dividend of 1.75 per share by the real estate investment trust on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 12.9% increase from EastGroup Properties’s previous quarterly dividend of $1.55.

EastGroup Properties has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. EastGroup Properties has a payout ratio of 117.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect EastGroup Properties to earn $10.26 per share next year, which means the company should continue to be able to cover its $6.20 annual dividend with an expected future payout ratio of 60.4%.

EastGroup Properties Stock Performance

NYSE EGP opened at $200.03 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. EastGroup Properties has a fifty-two week low of $163.10 and a fifty-two week high of $226.71. The business has a fifty day moving average of $207.62 and a 200-day moving average of $199.85. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 2.92 and a beta of 1.02.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $193.33 million for the quarter, compared to analyst estimates of $193.61 million. EastGroup Properties had a return on equity of 8.61% and a net margin of 40.47%.The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. EastGroup Properties has set its FY 2026 guidance at 9.520-9.660 EPS. As a group, analysts predict that EastGroup Properties will post 9.6 earnings per share for the current fiscal year.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.