EastGroup Properties (EGP) Earns Media Sentiment Score of 0.07

News articles about EastGroup Properties (NYSE:EGP) have trended somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. EastGroup Properties earned a coverage optimism score of 0.07 on Accern’s scale. Accern also gave news headlines about the real estate investment trust an impact score of 45.0688907815619 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

These are some of the headlines that may have impacted Accern Sentiment’s scoring:

EastGroup Properties (NYSE:EGP) opened at $93.88 on Monday. EastGroup Properties has a one year low of $67.69 and a one year high of $95.03. The firm has a market cap of $3,231.82, a price-to-earnings ratio of 22.35, a P/E/G ratio of 5.16 and a beta of 0.98.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.61. The company had revenue of $68.75 million for the quarter, compared to analysts’ expectations of $68.74 million. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.70%. EastGroup Properties’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 EPS. analysts forecast that EastGroup Properties will post 4.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.73%. EastGroup Properties’s payout ratio is currently 107.56%.

Several brokerages have recently weighed in on EGP. Bank of America lifted their price target on shares of EastGroup Properties from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Citigroup lifted their target price on shares of EastGroup Properties from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. SunTrust Banks set a $85.00 target price on shares of EastGroup Properties and gave the company a “sell” rating in a research note on Sunday, October 29th. Zacks Investment Research cut shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, Cantor Fitzgerald lifted their target price on shares of EastGroup Properties from $79.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $87.83.

In other EastGroup Properties news, Director Hayden C. Eaves III sold 3,532 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $92.14, for a total value of $325,438.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by insiders.

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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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