Brokerages expect Eastgroup Properties Inc (NYSE:EGP) to post sales of $71.87 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Eastgroup Properties’ earnings, with the lowest sales estimate coming in at $71.18 million and the highest estimate coming in at $72.69 million. Eastgroup Properties posted sales of $66.15 million in the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The firm is scheduled to announce its next earnings results on Thursday, April 19th.
On average, analysts expect that Eastgroup Properties will report full year sales of $71.87 million for the current financial year, with estimates ranging from $289.00 million to $295.02 million. For the next financial year, analysts anticipate that the firm will post sales of $306.36 million per share, with estimates ranging from $300.42 million to $311.89 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Eastgroup Properties.
Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Eastgroup Properties had a return on equity of 11.58% and a net margin of 30.34%. The firm had revenue of $71.36 million for the quarter, compared to the consensus estimate of $69.66 million. During the same quarter last year, the business posted $1.08 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year.
In other Eastgroup Properties news, Director Fredric H. Gould bought 3,000 shares of Eastgroup Properties stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $80.05 per share, for a total transaction of $240,150.00. Following the completion of the transaction, the director now directly owns 13,688 shares of the company’s stock, valued at $1,095,724.40. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.90% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Swiss National Bank raised its position in Eastgroup Properties by 2.2% in the third quarter. Swiss National Bank now owns 56,687 shares of the real estate investment trust’s stock valued at $4,995,000 after purchasing an additional 1,200 shares during the period. Stifel Financial Corp purchased a new stake in Eastgroup Properties in the third quarter valued at $365,000. Prudential Financial Inc. raised its position in Eastgroup Properties by 2.0% in the third quarter. Prudential Financial Inc. now owns 58,915 shares of the real estate investment trust’s stock valued at $5,192,000 after purchasing an additional 1,130 shares during the period. Schroder Investment Management Group purchased a new stake in Eastgroup Properties in the third quarter valued at $413,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of Eastgroup Properties by 1.3% in the third quarter. Asset Management One Co. Ltd. now owns 89,734 shares of the real estate investment trust’s stock valued at $7,927,000 after buying an additional 1,119 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.
Eastgroup Properties (NYSE EGP) opened at $84.16 on Monday. Eastgroup Properties has a 1 year low of $69.90 and a 1 year high of $95.03. The company has a market capitalization of $2,923.62, a P/E ratio of 19.76, a P/E/G ratio of 4.34 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 21st will be given a $0.64 dividend. The ex-dividend date is Tuesday, March 20th. This represents a $2.56 dividend on an annualized basis and a yield of 3.04%. Eastgroup Properties’s dividend payout ratio is currently 105.35%.
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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.
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