EastGroup Properties (EGP) Expected to Announce Earnings on Thursday

EastGroup Properties (NYSE:EGP) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $1.16 per share and revenue of $166.32 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

EastGroup Properties Price Performance

Shares of EastGroup Properties stock opened at $168.65 on Tuesday. The stock has a market capitalization of $8.35 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. EastGroup Properties has a one year low of $155.10 and a one year high of $192.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The business’s 50 day simple moving average is $165.60 and its two-hundred day simple moving average is $176.02.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is 115.70%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EGP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. Morgan Stanley dropped their price target on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.88.

EastGroup Properties Company Profile

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.