Equities research analysts expect that Eastgroup Properties Inc (NYSE:EGP) will announce earnings of $1.24 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Eastgroup Properties’ earnings, with estimates ranging from $1.22 to $1.26. Eastgroup Properties posted earnings of $1.17 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The firm is scheduled to report its next earnings report on Thursday, October 17th.

On average, analysts expect that Eastgroup Properties will report full-year earnings of $4.90 per share for the current year, with EPS estimates ranging from $4.86 to $4.95. For the next year, analysts anticipate that the firm will post earnings of $5.16 per share, with EPS estimates ranging from $5.06 to $5.22. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Eastgroup Properties.

Several research analysts have weighed in on the stock. Morgan Stanley cut shares of Meili from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $14.00 to $4.20 in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $103.03.

NYSE:EGP traded up $0.20 during mid-day trading on Wednesday, hitting $121.10. The stock had a trading volume of 11,459 shares, compared to its average volume of 175,713. Eastgroup Properties has a twelve month low of $87.69 and a twelve month high of $121.52. The firm has a market cap of $4.44 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 4.99 and a beta of 0.81. The stock has a 50 day simple moving average of $117.19. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.02 and a current ratio of 0.02.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, June 27th. Eastgroup Properties’s dividend payout ratio (DPR) is presently 61.67%.

In other Eastgroup Properties news, Director David H. Hoster II sold 942 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $110.83, for a total value of $104,401.86. Following the transaction, the director now directly owns 174,588 shares in the company, valued at $19,349,588.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its holdings in Eastgroup Properties by 19.5% during the 4th quarter. Macquarie Group Ltd. now owns 674,957 shares of the real estate investment trust’s stock worth $61,914,000 after acquiring an additional 109,969 shares during the period. Dimensional Fund Advisors LP boosted its position in Eastgroup Properties by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 548,940 shares of the real estate investment trust’s stock valued at $50,353,000 after buying an additional 13,551 shares during the period. Geode Capital Management LLC lifted its position in shares of Eastgroup Properties by 11.4% in the 4th quarter. Geode Capital Management LLC now owns 480,444 shares of the real estate investment trust’s stock worth $44,071,000 after purchasing an additional 49,158 shares during the period. Norges Bank purchased a new stake in shares of Eastgroup Properties in the 4th quarter worth about $38,078,000. Finally, Bank of America Corp DE lifted its position in shares of Eastgroup Properties by 9.0% in the 4th quarter. Bank of America Corp DE now owns 362,676 shares of the real estate investment trust’s stock worth $33,268,000 after purchasing an additional 29,998 shares during the period. Institutional investors own 94.31% of the company’s stock.

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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Earnings History and Estimates for Eastgroup Properties (NYSE:EGP)

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