Trading Report: The EastGroup Properties Inc. (EGP) to Release Quarterly Earnings on Wednesday

The EastGroup Properties Inc. (EGP) to Release Quarterly Earnings on Wednesday

EastGroup Properties Inc. (NYSE:EGP) will post its Q316 quarterly earnings results on Wednesday, October 19th. Analysts expect EastGroup Properties to post earnings of $1.04 per share and revenue of $62.41 million for the quarter.

Shares of EastGroup Properties Inc. (NYSE:EGP) opened at 69.39 on Tuesday. The firm has a market cap of $2.27 billion, a PE ratio of 25.12 and a beta of 1.00. The company has a 50 day moving average price of $71.64 and a 200 day moving average price of $68.00. EastGroup Properties Inc. has a 12-month low of $49.31 and a 12-month high of $76.00.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, September 15th. This is a boost from EastGroup Properties’s previous quarterly dividend of $0.60. EastGroup Properties’s payout ratio is 90.51%.

In related news, Director David H. Hoster II sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $73.01, for a total value of $730,100.00. Following the sale, the director now owns 192,037 shares of the company’s stock, valued at approximately $14,020,621.37. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brent Wood sold 3,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $72.22, for a total value of $245,548.00. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of EGP. Hsbc Holdings PLC raised its stake in EastGroup Properties by 2.7% in the second quarter. Hsbc Holdings PLC now owns 4,980 shares of the company’s stock worth $343,000 after buying an additional 132 shares during the last quarter. Keeley Asset Management Corp bought a new stake in EastGroup Properties during the second quarter worth about $207,000. Profund Advisors LLC raised its stake in EastGroup Properties by 4.1% in the second quarter. Profund Advisors LLC now owns 9,031 shares of the company’s stock worth $622,000 after buying an additional 353 shares during the last quarter. Advisor Group Inc. bought a new stake in EastGroup Properties during the second quarter worth about $110,000. Finally, Stevens Capital Management LP raised its stake in EastGroup Properties by 115.6% in the second quarter. Stevens Capital Management LP now owns 15,302 shares of the company’s stock worth $1,055,000 after buying an additional 8,206 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on EGP. Sandler O’Neill cut EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. BMO Capital Markets reiterated a “hold” rating and set a $70.00 target price on shares of EastGroup Properties in a research report on Thursday, July 28th. Mizuho began coverage on EastGroup Properties in a research report on Wednesday, September 28th. They set a “buy” rating and a $83.00 target price on the stock. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Wednesday, September 21st. Finally, Morgan Stanley began coverage on EastGroup Properties in a research report on Tuesday, September 6th. They set an “underweight” rating and a $65.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.64.

EastGroup Properties Company Profile

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