EastGroup Properties (EGP) to Release Quarterly Earnings on Tuesday

EastGroup Properties (NYSE:EGP) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, July 23rd. Analysts expect the company to announce earnings of $2.05 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $187.60 on Monday. The firm has a market capitalization of $9.03 billion, a P/E ratio of 40.69, a PEG ratio of 2.92 and a beta of 0.98. The stock has a fifty day moving average price of $169.24 and a 200 day moving average price of $173.22. EastGroup Properties has a 52 week low of $154.75 and a 52 week high of $189.53. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $1.27 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.08 annualized dividend and a yield of 2.71%. EastGroup Properties’s payout ratio is currently 110.20%.

Analysts Set New Price Targets

EGP has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Piper Sandler dropped their target price on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. BNP Paribas assumed coverage on EastGroup Properties in a research note on Tuesday, June 4th. They set a “neutral” rating and a $167.00 price target for the company. BMO Capital Markets assumed coverage on EastGroup Properties in a report on Monday, April 22nd. They issued an “outperform” rating and a $190.00 price objective on the stock. Finally, KeyCorp cut their price objective on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $180.69.

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.