EastGroup Properties (EGP) Given Coverage Optimism Rating of 0.08

Press coverage about EastGroup Properties (NYSE:EGP) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. EastGroup Properties earned a news impact score of 0.08 on Accern’s scale. Accern also assigned news articles about the real estate investment trust an impact score of 46.5026763677513 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

EastGroup Properties (EGP) traded up $2.10 on Thursday, reaching $93.27. 140,489 shares of the company traded hands, compared to its average volume of 199,236. EastGroup Properties has a 1-year low of $65.62 and a 1-year high of $93.61. The company has a market capitalization of $3,190.13, a PE ratio of 22.06, a price-to-earnings-growth ratio of 5.09 and a beta of 0.98.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.61. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.70%. The business had revenue of $68.75 million during the quarter, compared to analysts’ expectations of $68.74 million. During the same quarter in the prior year, the business posted $1.04 earnings per share. EastGroup Properties’s revenue was up 8.8% compared to the same quarter last year. analysts expect that EastGroup Properties will post 4.23 EPS for the current fiscal year.

A number of brokerages have recently issued reports on EGP. Bank of America Corporation boosted their target price on shares of EastGroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Citigroup Inc. boosted their target price on shares of EastGroup Properties from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. SunTrust Banks, Inc. set a $85.00 target price on shares of EastGroup Properties and gave the company a “sell” rating in a research report on Sunday, October 29th. Zacks Investment Research cut shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Cantor Fitzgerald boosted their target price on shares of EastGroup Properties from $79.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $87.83.

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In other news, Director Hayden C. Eaves III sold 3,532 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $92.14, for a total value of $325,438.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is currently owned by insiders.

About EastGroup Properties

EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

Insider Buying and Selling by Quarter for EastGroup Properties (NYSE:EGP)

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