Eastgroup Properties (NYSE:EGP) updated its fourth quarter 2018 earnings guidance on Thursday. The company provided EPS guidance of $1.17-1.19 for the period. Eastgroup Properties also updated its FY 2018 guidance to $4.66-4.68 EPS.

A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Eastgroup Properties from a buy rating to a hold rating in a report on Wednesday, July 11th. Sandler O’Neill set a $105.00 price objective on shares of Eastgroup Properties and gave the stock a buy rating in a report on Monday, July 23rd. Bank of America raised their price objective on shares of Eastgroup Properties from $100.00 to $103.00 and gave the stock a buy rating in a report on Monday, July 16th. Citigroup raised their price objective on shares of Eastgroup Properties from $87.00 to $90.00 and gave the stock a neutral rating in a report on Wednesday, July 25th. Finally, Mizuho reaffirmed a hold rating and set a $92.00 price objective on shares of Eastgroup Properties in a report on Monday, July 30th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Eastgroup Properties has a consensus rating of Hold and a consensus target price of $95.09.

EGP stock traded down $0.23 during trading on Thursday, hitting $93.24. 254,200 shares of the stock traded hands, compared to its average volume of 211,117. Eastgroup Properties has a one year low of $77.74 and a one year high of $99.39. The company has a market capitalization of $3.42 billion, a P/E ratio of 22.07, a P/E/G ratio of 4.17 and a beta of 0.76.

Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings results on Thursday, July 19th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Eastgroup Properties had a net margin of 28.00% and a return on equity of 10.26%. The firm had revenue of $74.90 million during the quarter, compared to the consensus estimate of $72.60 million. During the same period last year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts predict that Eastgroup Properties will post 4.62 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $0.72 per share. This is an increase from Eastgroup Properties’s previous quarterly dividend of $0.64. This represents a $2.88 annualized dividend and a yield of 3.09%. The ex-dividend date was Thursday, September 27th. Eastgroup Properties’s dividend payout ratio (DPR) is currently 67.61%.

In other Eastgroup Properties news, EVP John F. Coleman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $96.27, for a total value of $481,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brent Wood sold 4,700 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $97.40, for a total transaction of $457,780.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

About Eastgroup Properties

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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