EastGroup Properties (NYSE:EGP – Get Free Report) released its earnings results on Wednesday. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97), Yahoo Finance reports. EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The company had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. During the same quarter last year, the business earned $1.95 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis.
EastGroup Properties Stock Performance
EastGroup Properties stock traded down $2.12 during mid-day trading on Friday, reaching $176.41. The company’s stock had a trading volume of 337,781 shares, compared to its average volume of 296,488. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.60. EastGroup Properties has a twelve month low of $155.23 and a twelve month high of $192.61. The business has a 50 day moving average price of $184.18 and a 200-day moving average price of $175.43. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 2.65 and a beta of 0.99.
EastGroup Properties Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.27. EastGroup Properties’s dividend payout ratio (DPR) is currently 121.48%.
Analyst Ratings Changes
Check Out Our Latest Analysis on EGP
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.
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