EastGroup Properties, Inc. (NYSE:EGP) Plans Quarterly Dividend of $1.55

EastGroup Properties, Inc. (NYSE:EGP) declared a quarterly dividend on Friday, December 12th. Investors of record on Wednesday, December 31st will be given a dividend of 1.55 per share by the real estate investment trust on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, December 31st.

EastGroup Properties has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. EastGroup Properties has a payout ratio of 117.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect EastGroup Properties to earn $9.73 per share next year, which means the company should continue to be able to cover its $6.20 annual dividend with an expected future payout ratio of 63.7%.

EastGroup Properties Stock Performance

Shares of EGP opened at $181.05 on Monday. The company has a 50-day simple moving average of $179.28 and a two-hundred day simple moving average of $171.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.01 and a quick ratio of 0.01. The firm has a market capitalization of $9.66 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.82 and a beta of 1.11. EastGroup Properties has a one year low of $137.67 and a one year high of $188.89.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The firm had revenue of $182.14 million for the quarter, compared to analysts’ expectations of $181.88 million. During the same quarter last year, the company posted $2.13 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. EastGroup Properties has set its FY 2025 guidance at 8.940-8.980 EPS and its Q4 2025 guidance at 2.300-2.340 EPS. On average, analysts anticipate that EastGroup Properties will post 8.94 EPS for the current fiscal year.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.