Eastgroup Properties (NYSE:EGP) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.14, Fidelity Earnings reports. The business had revenue of $75.30 million during the quarter, compared to analyst estimates of $74.65 million. Eastgroup Properties had a return on equity of 10.26% and a net margin of 28.00%. Eastgroup Properties’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS.

Shares of Eastgroup Properties stock opened at $93.24 on Friday. Eastgroup Properties has a 1 year low of $77.74 and a 1 year high of $99.39. The firm has a market cap of $3.34 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 4.08 and a beta of 0.76.

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

A number of equities research analysts recently commented on EGP shares. Zacks Investment Research raised Eastgroup Properties from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, September 18th. Mizuho reaffirmed a “hold” rating and set a $92.00 target price on shares of Eastgroup Properties in a research report on Monday, July 30th. Citigroup raised their target price on Eastgroup Properties from $87.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. ValuEngine lowered Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Sandler O’Neill set a $105.00 target price on Eastgroup Properties and gave the company a “buy” rating in a research report on Monday, July 23rd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Eastgroup Properties has an average rating of “Hold” and a consensus target price of $95.09.

In related news, EVP John F. Coleman sold 5,000 shares of Eastgroup Properties stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $96.27, for a total value of $481,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brent Wood sold 4,700 shares of Eastgroup Properties stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.40, for a total value of $457,780.00. The disclosure for this sale can be found here. Company insiders own 2.90% 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 for Eastgroup Properties (NYSE:EGP)

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