Equities research analysts expect Eastgroup Properties Inc (NYSE:EGP) to report earnings per share (EPS) of $1.24 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Eastgroup Properties’ earnings. The lowest EPS estimate is $1.22 and the highest is $1.26. Eastgroup Properties posted earnings of $1.17 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The company is expected to report its next earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Eastgroup Properties will report full year earnings of $4.92 per share for the current financial year, with EPS estimates ranging from $4.86 to $4.95. For the next financial year, analysts anticipate that the company will report earnings of $5.17 per share, with EPS estimates ranging from $5.06 to $5.26. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Eastgroup Properties.
EGP has been the subject of several recent research reports. SunTrust Banks boosted their target price on shares of Eastgroup Properties from $105.00 to $115.00 and gave the stock a “hold” rating in a research report on Tuesday. Zacks Investment Research raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research report on Monday, August 5th. Finally, Morgan Stanley boosted their target price on shares of Eastgroup Properties from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $110.65.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank raised its stake in Eastgroup Properties by 84.1% during the 1st quarter. Huntington National Bank now owns 766 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 350 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Eastgroup Properties by 1.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 112,360 shares of the real estate investment trust’s stock valued at $12,544,000 after buying an additional 1,277 shares in the last quarter. Retirement Systems of Alabama acquired a new position in shares of Eastgroup Properties in the 2nd quarter valued at $5,544,000. Trillium Asset Management LLC raised its stake in shares of Eastgroup Properties by 4.8% in the 1st quarter. Trillium Asset Management LLC now owns 12,841 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 586 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Eastgroup Properties in the 1st quarter valued at $211,000. 92.56% of the stock is owned by institutional investors and hedge funds.
EGP stock traded up $0.97 during trading hours on Thursday, hitting $122.84. The company’s stock had a trading volume of 173,460 shares, compared to its average volume of 270,283. The company has a market capitalization of $4.60 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.11 and a beta of 0.80. Eastgroup Properties has a 12 month low of $87.69 and a 12 month high of $123.06. The stock has a 50 day moving average price of $119.31 and a two-hundred day moving average price of $113.04.
About Eastgroup Properties
EastGroup Properties, Inc 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.
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