EastGroup Properties (EGP) Set to Announce Earnings on Tuesday

EastGroup Properties (NYSE:EGP) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect EastGroup Properties to post earnings of $2.01 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

EastGroup Properties Trading Up 0.0 %

EastGroup Properties stock opened at $159.27 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.28 and a quick ratio of 0.28. EastGroup Properties has a one year low of $154.75 and a one year high of $188.85. The stock has a market capitalization of $7.65 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.52 and a beta of 0.93. The business’s fifty day moving average is $177.23 and its 200 day moving average is $175.40.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 annualized dividend and a dividend yield of 3.19%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.19%.

Insider Activity

In related news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the sale, the chief financial officer now owns 102,617 shares of the company’s stock, valued at approximately $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Trading of EastGroup Properties

A number of large investors have recently added to or reduced their stakes in EGP. Quarry LP bought a new stake in EastGroup Properties in the 2nd quarter worth approximately $27,000. Dark Forest Capital Management LP increased its stake in EastGroup Properties by 3,380.0% in the 1st quarter. Dark Forest Capital Management LP now owns 174 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 169 shares during the last quarter. Group One Trading L.P. bought a new stake in EastGroup Properties in the 1st quarter worth approximately $41,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in EastGroup Properties in the 1st quarter worth approximately $49,000. Finally, Belpointe Asset Management LLC increased its stake in EastGroup Properties by 141.0% in the 1st quarter. Belpointe Asset Management LLC now owns 494 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EGP shares. KeyCorp raised their target price on EastGroup Properties from $188.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Royal Bank of Canada raised their target price on EastGroup Properties from $180.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Barclays started coverage on EastGroup Properties in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 target price on the stock. Truist Financial raised their target price on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. started coverage on EastGroup Properties in a research report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, EastGroup Properties has an average rating of “Hold” and a consensus target price of $188.36.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, 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.