EastGroup Properties (EGP) Expected to Announce Earnings on Thursday

EastGroup Properties (NYSE:EGP - Get Free Report) is projected to issue its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $1.16 per share and revenue of $166.32 million for the quarter. Individual interested in registering for the company's earnings conference call can do so using this link.

EastGroup Properties Trading Up 1.1 %

Shares of NYSE:EGP traded up $1.88 during midday trading on Thursday, reaching $170.04. The company had a trading volume of 323,442 shares, compared to its average volume of 387,771. The company has a fifty day simple moving average of $165.73 and a two-hundred day simple moving average of $176.42. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 3.12 and a beta of 1.00. EastGroup Properties has a 1-year low of $155.10 and a 1-year high of $192.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties's dividend payout ratio (DPR) is currently 115.70%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EGP shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price objective on the stock. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and raised their price objective for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Barclays decreased their price objective on shares of EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating for the company in a report on Thursday, October 10th. Finally, Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $185.00 to $200.00 in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $190.88.

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.