Somewhat Favorable Press Coverage Somewhat Unlikely to Affect EastGroup Properties (EGP) Share Price
Media stories about EastGroup Properties (NYSE:EGP) have trended somewhat positive recently, Accern Sentiment reports. Accern scores the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. EastGroup Properties earned a news impact score of 0.20 on Accern’s scale. Accern also gave headlines about the real estate investment trust an impact score of 45.9769866531546 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment’s scoring:
- EastGroup Properties, Inc. (EGP) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com)
- EastGroup Properties Reports On Status Of Florida Properties (finance.yahoo.com)
- EastGroup Properties, Inc. (EGP) Upgraded by ValuEngine to Buy (americanbankingnews.com)
- Rexford Industrial Realty (REXR) vs. EastGroup Properties (EGP) Head-To-Head Analysis (americanbankingnews.com)
- EastGroup Properties, Inc. (EGP) Expected to Post Quarterly Sales of $68.97 Million (americanbankingnews.com)
Shares of EastGroup Properties (NYSE:EGP) opened at 90.71 on Friday. The company’s 50-day moving average is $87.14 and its 200 day moving average is $81.20. EastGroup Properties has a 52-week low of $63.99 and a 52-week high of $91.51. The firm has a market capitalization of $3.10 billion, a PE ratio of 38.02 and a beta of 0.98.
EastGroup Properties (NYSE:EGP) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.60. The company had revenue of $67.90 million for the quarter, compared to analyst estimates of $67.16 million. EastGroup Properties had a net margin of 30.20% and a return on equity of 12.05%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. Equities analysts expect that EastGroup Properties will post $2.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.82%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 14th. EastGroup Properties’s dividend payout ratio is 108.02%.
EGP has been the topic of several research reports. Zacks Investment Research raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Tuesday, July 11th. BidaskClub downgraded shares of EastGroup Properties from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Cantor Fitzgerald reissued a “hold” rating and issued a $75.00 price target on shares of EastGroup Properties in a research note on Tuesday, July 25th. Bank of America Corporation raised shares of EastGroup Properties from a “neutral” rating to a “buy” rating and raised their price target for the stock from $91.00 to $96.00 in a research note on Wednesday, August 16th. Finally, Sandler O’Neill raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $90.00 to $104.00 in a research note on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. EastGroup Properties currently has an average rating of “Hold” and an average target price of $83.10.
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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.
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