EastGroup Properties, Inc. (EGP) To Go Ex-Dividend on June 30th

EastGroup Properties, Inc. (NYSE:EGP) announced a quarterly dividend on Thursday, May 21st. Stockholders of record on Tuesday, June 30th will be given a dividend of 1.55 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, June 30th.

EastGroup Properties has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. EastGroup Properties has a payout ratio of 117.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect EastGroup Properties to earn $10.21 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 60.7%.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $206.99 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.19 and a quick ratio of 0.19. The business has a 50 day simple moving average of $202.02 and a 200-day simple moving average of $191.75. EastGroup Properties has a 12 month low of $159.37 and a 12 month high of $207.72. The stock has a market capitalization of $11.13 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 3.11 and a beta of 1.04.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.50. The firm had revenue of $190.26 million for the quarter, compared to analyst estimates of $193.84 million. EastGroup Properties had a net margin of 39.69% and a return on equity of 8.37%. EastGroup Properties’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $2.15 EPS. EastGroup Properties has set its FY 2026 guidance at 9.460-9.660 EPS. Equities analysts predict that EastGroup Properties will post 9.58 earnings per share for the current year.

EastGroup Properties Company Profile

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.