EastGroup Properties Inc. (EGP) Issues FY12 Earnings Guidance
EastGroup Properties Inc. (EGP) issued an update on its FY12 earnings guidance on Thursday morning. The company provided EPS guidance of 3.07-3.09 for the period.
Shares of EastGroup Properties Inc. (EGP) traded up 0.11% during mid-day trading on Thursday, hitting $54.03. EastGroup Properties Inc. (EGP) has a 52 week low of $38.31 and a 52 week high of $56.44. The company has a market cap of $1.562 billion and a P/E ratio of 58.22.
EastGroup Properties last announced its earnings results on Thursday, October 18th. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.77 by $0.01. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that EastGroup Properties Inc. (EGP) will post $3.09 earnings per share for the current fiscal year.
On a related note, analysts at Wunderlich downgraded shares of EastGroup Properties from a buy rating to a hold rating in a research note to investors on Monday, July 23rd. They now have a $55.00 price target on the stock. They noted that the move was a valuation call.
EastGroup Properties, Inc. (EastGroup) is an equity real estate investment trust (REIT). EastGroup is engaged in the acquisition, development and operation of industrial properties in Sunbelt markets throughout the United States, including the states of Florida, Texas, Arizona and California.
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