Somewhat Favorable Press Coverage Somewhat Unlikely to Affect EastGroup Properties (EGP) Share Price

Press coverage about EastGroup Properties (NYSE:EGP) has been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive press 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 -1 to 1, with scores closest to one being the most favorable. EastGroup Properties earned a media sentiment score of 0.21 on Accern’s scale. Accern also gave media stories about the real estate investment trust an impact score of 45.9490241717969 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Several equities analysts have commented on EGP shares. Cantor Fitzgerald upped their price objective on EastGroup Properties from $79.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Bank of America upped their price objective on EastGroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 6th. SunTrust Banks set a $85.00 price objective on EastGroup Properties and gave the company a “sell” rating in a research report on Sunday, October 29th. Zacks Investment Research raised EastGroup Properties from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Monday, October 2nd. Finally, ValuEngine downgraded EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. EastGroup Properties presently has an average rating of “Hold” and an average target price of $88.33.

EastGroup Properties (EGP) traded up $1.48 on Friday, hitting $87.98. The stock had a trading volume of 155,003 shares, compared to its average volume of 184,915. EastGroup Properties has a fifty-two week low of $67.69 and a fifty-two week high of $95.03. The company has a market cap of $2,977.73, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 4.75 and a beta of 0.98.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, December 14th. EastGroup Properties’s payout ratio is 107.56%.

In related news, Director Hayden C. Eaves III sold 3,532 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $92.14, for a total transaction of $325,438.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bruce Corkern sold 3,586 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $91.75, for a total value of $329,015.50. The disclosure for this sale can be found here. Insiders have sold a total of 22,668 shares of company stock worth $2,105,037 in the last three months. Corporate insiders own 2.90% of the company’s stock.

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EastGroup Properties Company Profile

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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