EastGroup Properties (EGP) Getting Somewhat Favorable Media Coverage, Study Shows
Media headlines about EastGroup Properties (NYSE:EGP) have trended somewhat positive on Saturday, according to Accern. The research firm ranks the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. EastGroup Properties earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 48.2098625487428 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:
- EastGroup Properties, Inc. breached its 50 day moving average in a Bearish Manner : EGP-US : August 9, 2017 (finance.yahoo.com)
- Robeco Institutional Asset Management B.v. Sold A Lot More EastGroup Properties, Inc. (EGP) Stock (highlightpress.com)
- $68.97 Million in Sales Expected for EastGroup Properties, Inc. (EGP) This Quarter (americanbankingnews.com)
- Rexford Industrial Realty (REXR) & EastGroup Properties (EGP) Financial Comparison (americanbankingnews.com)
EastGroup Properties (EGP) traded down 0.38% during mid-day trading on Friday, reaching $84.27. The company’s stock had a trading volume of 237,733 shares. The stock has a market cap of $2.88 billion, a PE ratio of 35.32 and a beta of 0.98. The company has a 50 day moving average of $84.23 and a 200-day moving average of $78.45. EastGroup Properties has a 52-week low of $63.99 and a 52-week high of $88.13.
EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.60. The firm had revenue of $67.90 million for the quarter, compared to analyst estimates of $67.16 million. EastGroup Properties had a return on equity of 12.05% and a net margin of 30.20%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. Equities analysts forecast that EastGroup Properties will post $2.42 earnings per share for the current year.
A number of brokerages recently weighed in on EGP. Zacks Investment Research downgraded EastGroup Properties from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and issued a $85.00 price objective on shares of EastGroup Properties in a research note on Friday, July 28th. Cantor Fitzgerald reissued a “hold” rating and issued a $75.00 price objective on shares of EastGroup Properties in a research note on Tuesday, July 25th. BidaskClub downgraded EastGroup Properties from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Mizuho raised their price objective on EastGroup Properties from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $78.88.
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In other news, insider John F. Coleman sold 5,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $80.56, for a total transaction of $402,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director H C. Bailey, Jr. sold 850 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $81.31, for a total value of $69,113.50. Following the transaction, the director now owns 3,082 shares in the company, valued at approximately $250,597.42. The disclosure for this sale can be found here. Insiders sold 7,109 shares of company stock worth $577,670 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.
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.
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