EastGroup Properties (EGP) to Release Earnings on Thursday

EastGroup Properties (NYSE:EGP) is expected to 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. Investors that wish to register for the company’s conference call can do so using this link.

EastGroup Properties Price Performance

EGP stock opened at $168.44 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $8.34 billion, a P/E ratio of 34.80, a PEG ratio of 3.12 and a beta of 1.00. The business has a 50 day simple moving average of $165.73 and a 200-day simple moving average of $176.42. EastGroup Properties has a twelve month low of $155.10 and a twelve month high of $192.61.

EastGroup Properties Dividend Announcement

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

Analyst Upgrades and Downgrades

EGP has been the topic of a number of research reports. Evercore ISI raised their price target on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Wedbush reiterated an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a research report on Friday, October 25th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and a consensus price target of $190.88.

About EastGroup Properties

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.