Headlines about EastGroup Properties (NYSE:EGP) have been trending negative recently, according to Accern. Accern identifies negative and positive press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. EastGroup Properties earned a coverage optimism score of -0.36 on Accern’s scale. Accern also gave media coverage about the real estate investment trust an impact score of 0 out of 100, indicating that recent press coverage is extremely unlikely to have an effect on the stock’s share price in the near future.

A number of analysts have issued reports on EGP shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $70.00 price objective on shares of EastGroup Properties in a research note on Wednesday, March 22nd. Morgan Stanley raised EastGroup Properties from an “underweight” rating to an “equal weight” rating and set a $76.00 price objective on the stock in a research note on Wednesday, April 12th. Evercore ISI reaffirmed an “underperform” rating and issued a $73.00 price objective (up previously from $69.00) on shares of EastGroup Properties in a research note on Sunday, April 23rd. Stifel Nicolaus lifted their price objective on EastGroup Properties from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Monday, April 24th. Finally, Mizuho lifted their price objective on EastGroup Properties from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $77.38.

Shares of EastGroup Properties (EGP) opened at 82.23 on Monday. The firm has a 50-day moving average price of $82.71 and a 200-day moving average price of $76.26. EastGroup Properties has a 1-year low of $63.99 and a 1-year high of $87.40. The company has a market cap of $2.78 billion, a P/E ratio of 31.23 and a beta of 0.97.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, April 20th. The real estate investment trust reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.64. EastGroup Properties had a return on equity of 13.70% and a net margin of 33.62%. The business had revenue of $66.15 million during the quarter, compared to analysts’ expectations of $66.76 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts expect that EastGroup Properties will post $1.77 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, May 16th were issued a dividend of $0.62 per share. The ex-dividend date was Wednesday, June 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.02%. EastGroup Properties’s payout ratio is currently 93.94%.

In other EastGroup Properties news, insider Brent Wood sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $78.72, for a total transaction of $314,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David H. Hoster II sold 1,259 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.00, for a total value of $105,756.00. Following the transaction, the director now directly owns 186,130 shares of the company’s stock, valued at approximately $15,634,920. The disclosure for this sale can be found here. Insiders have sold 20,109 shares of company stock valued at $1,601,930 in the last three months. Insiders own 2.90% of the company’s stock.

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About EastGroup Properties

EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

Insider Buying and Selling by Quarter for EastGroup Properties (NYSE:EGP)

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